TLDN and POSCO Sign MoU to Develop Crude Palm Oil Processing Industry

JAKARTA – On Thursday, August 18, 2022, PT Teladan Prima Agro Tbk (TLDN) and POSCO INTERNATIONAL Corporation (PIC) signed a Memorandum of Understanding (MoU) at TLDN’s Head Office in Jakarta located at Beltway Office Park. The signing of this MoU opens opportunities for cooperation between TLDN and PIC in developing the downstream industry by building a palm oil refinery plant with the final product in the form of palm oil derivative products that will be sold to domestic and foreign markets.

“The potential of this partnership will become an important part of our green growth diversification to create value-added for the company and, of course, to continue demonstrating TLDN’s dedication to be a world-class agribusiness company,” said TLDN’s President Director, Wishnu Wardhana.

Following the MoU’s signing, TLDN and PIC will work together to create a feasibility study to examine and learn more specifically about the potential of this downstream project.

“On May 2022, we traveled to Berau Regency where we visited TLDN’s palm oil plantations and the palm oil processing mill. We think that this partnership will benefit both companies and the Indonesian palm oil industry “said Seung Pyo Hong, Senior Vice President Agro Commodities Division of POSCO INTERNATIONAL Corporation (PIC).

For information, PIC is a company from South Korea that is engaged in international trade, infrastructure management, and resource development. PIC also has experience in the palm oil plantation industry in Indonesia through its subsidiary PT Bio Inti Agrindo (BIA), where PIC owns and operates one oil palm plantation and three palm oil mills in Merauke, Papua.

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