PTPN III Unveils Bold Restructuring: 13 Subsidiaries Merge into Two Powerhouse Holdings for National Progress

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Perkebunan Nusantara PTPN III (Persero) has unveiled an ambitious initiative to merge 13 of its subsidiaries into two sub-holdings, namely PalmCo and SupportingCo. Photo by: PTPN

PALMOILMAGAZINE, JAKARTA – Perkebunan Nusantara PTPN III (Persero) has unveiled an ambitious initiative to merge 13 of its subsidiaries into two sub-holdings, namely PalmCo and SupportingCo. This strategic move is a concrete step to bolster the national strategic program aimed at achieving self-sufficiency, particularly in the food and energy sectors.

PalmCo, the result of merging PT Perkebunan Nusantara (PTPN) V, VI, and XIII, now operates as PTPN IV, emerging as the surviving entity from the consolidation. Concurrently, SupportingCo has been formed through the merger of PTPN II, VII, VIII, IX, X, XI, XII, and XIV, now operating as PTPN I. The objective is to foster synergy and enhance operational and managerial efficiency within the plantation sector.

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This strategic decision is poised to contribute significantly to the advancement of national goals in food and energy self-reliance.

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Besides, the integrated PTPN Group would be the way to reinforce economic security in national scale to be more qualified and fairer by having downstream sector in food sectors and developing regions to minimize the gap.

The program would be important not only in economic aspect but also in involving social and environmental responsibility. Through smallholders replanting program, PTPN Group is committed to develop sustainable environment, escalate disaster security, respond to climate change by accelerating renewable energy development.

PalmCo is hoped to be the biggest palm oil company in the world with the plantation about more than 600 thousand hectares in 2026. PTPN is optimist that PalmCo would be the main actor in palm oil industries in the world, contributing to crude palm oil (CPO) and palm cooking oil production in national scale. The projection showed the increasing palm cooking oil production from 460.000 tons per year in 2021 to be 1,8 million tons per year in 2026, four times increased from the previous.

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Meanwhile, SupportingCo would be as the company that manages the mainstay plantation assets. It would cover to advantage plantations by optimizing and divestment, plantation management, business diversification, green business development that would deliver additional values.

Vice Minister of Enterprises, Kartika Wirjoatmodjo said that the merger of PTPN Group is part of scheme that Ministry of Enterprises does. The goals would be about to get efficiency and escalation in many financial indicators, integrated system process, human resources, operational, and financial that would be completed in the next six months.

“Of course, after the signing there would be integrated system, human resources, operational, finance, and others to do. we would complete everything in the next six months. After than we have to focus on each function,” Tiko, her nickname, said in Jakarta, Friday (1/12/2023).

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Tiko also emphasized that the transformation in PTPN Group would involve wider aspects, transformation in human resources. She hoped that every officer particularly the millennial would be the reliable worker to manage palm oil (plantation) not only in on-farm aspect, but also in off-farm, get downstream sectors, value creation, and develop sources of renewable energy sustainably. The transformation is hoped to make PalmCo as the advance palm oil company by delivering positive impacts, not only in economy but also the social and environment. (T2)

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