Anderson Tanoto, Managing Director of Royal Golden Eagle (RGE) set a big target to fulfill for his Singapore-based company that has major interests in pulp, paper, palm oil and energy.
For this wanted to double their assets before the end of this decade. He said, “We must continue to expand to meet consumer demand.”
According to him, by 2030 the asset base of the group will increase by more than $30 billion to top $60 billion.
RGE’s pulp and paper arm Asia Pacific Resources International Holdings (April) is about to take a big step towards achieving Tanoto’s ambitious goal.
Nowadays, the company is investing 33.4 trillion rupiah ($2.2 billion) into a new paperboard facility located at its integrated production base in Sumatra.
This new facility is one of the largest investments that April has made since its founding in 1993 and is scheduled to start operating next year in June, and will be located within the same complex where April already has a large pulp and paper-making operation, and is designed to have an annual production capacity of 1.2 million tons of boxboard, the material used in a variety of paper-based packaging and boxes.
On the other hand, Tanoto sees a big opportunity to create a product that will meet the rising global demand for recyclable packaging to replace that made from plastic.
“I believe the transition away from plastic waste packaging will happen sooner than later, and the only way we can make it happen sooner than later is to make our packaging scalable, big, good quality and low cost,” Tanoto aims to promote growth for RGE that’s not just rapid, but puts a top priority on sustainability.