POSCO International Completes Palm Oil Value Chain in Indonesia

POSCO International is completing a palm oil refining plant in Indonesia in partnership with GS Caltex. The company is also considering additional acquisitions of local palm plantations, planning to aggressively expand its food business by establishing an integrated value chain overseas from refining to bio-raw material extraction. POSCO International will complete a palm oil refining facility with an annual capacity of 500,000 tons in Kalimantan, Indonesia, in mid-November. The plant was built on a 300,000 square meter site with a total investment of 260 billion won in partnership with GS Caltex. The bio-raw materials and edible oils produced will be exported to Indonesia’s domestic market as well as neighboring Southeast Asian countries. Indonesia accounts for more than 50% of the global palm oil market, making it a crucial region for global food security. Palm oil is vegetable oil extracted from oil palm fruit. Through the refining process, vegetable oil extracted from palm ...