Heaptalk, Jakarta — Bank DBS Indonesia has channeled a US$50 million, approximately Rp795 billion, trade financing facility to Permata Group. This funding is specifically allocated to bolster the operations and sales of Permata’s biodiesel, highlighting the commitment to driving energy transition and accelerating low-carbon industrial practices.
The trade financing facility provided by Bank DBS Indonesia will empower Permata Group to expand its biodiesel production at refineries certified under the RSPO (Roundtable on Sustainable Palm Oil) Supply Chain Certification Standard. For this reason, this trade financing will bolster the Indonesian government’s increasingly stringent biodiesel blending mandate, which is crucial in reducing greenhouse gas emissions and strengthening energy security in Indonesia.
According to Kunardy Darma Lie, the Corporate Banking Director of PT Bank DBS Indonesia, biodiesel is a critical foundation of Indonesia’s energy transition strategy, significantly reducing dependence on fossil fuels. For this reason, this financing is playing a vital role not only in supporting Permata Group but also in advancing Indonesia’s sustainability agenda.
Founded in 1984, Permata Group is an integrated palm oil company with the entire supply chain as its core business. A member of RSPO since 2006, this enterprise has made continuous progress in its sustainability, such as the No Deforestation, No Peat, and No Exploitation (NDPE) policy across its supply chain. The group has expanded its biodiesel operations, aiming to accelerate Indonesia’s energy transition.
“The shift to biodiesel plays a significant role in the energy sector’s decarbonization journey. We are optimistic that by increasing our biodiesel production, supported by the facility from Bank DBS Indonesia, Permata Group can continue contributing to the growth of Indonesia’s biofuel industry to achieve these ambitious goals.” The Finance Director of Permata Group, Andrew Luhur, stated.
