New mill and restart of planting
M. P. EVANS GROUP PLC
(THE "GROUP")
NEW MILL AND RESTART OF PLANTING
The board is pleased to announce the following two operational developments.
Fifth mill opening
The Group's fifth palm-oil mill has now been commissioned at its Bumi Mas estate in East Kalimantan. The Benuang mill, a 60-tonne-per-hour facility, is now processing all the fresh fruit bunches ("ffb") harvested from both the Group's own areas and those of its associated scheme smallholders. The Group expects to be able to increase oil-extraction rates by utilising the Benuang mill rather than sending crop to third-party mills. The Group will work towards receiving certification from the Roundtable for Sustainable Palm Oil ("RSPO") for the new mill by around the end of 2022. This will help to increase the Group's total percentage of certified sustainable production. In addition, the Group will look for opportunities profitably to source ffb from independent smallholders close to Bumi Mas to utilise spare capacity at its new mill, in the same way that it has successfully purchased independent crop at its existing mills. As part of the ongoing investment in the Bumi Mas estate, the Group is also developing a biogas facility and a bulking station, both of which are expected to become operational in the second half of 2021.
Planting to restart at Musi Rawas
Following the announcement of changes to RSPO regulations, the Group paused planting at its Musi Rawas estate in late 2019. It subsequently provided all necessary documentary evidence to demonstrate compliance with the updated requirements to the RSPO and has recently received confirmation that planting can restart. There are 8,000 planted hectares at Musi Rawas and, based on the clearance now received, the Group remains confident of being able to plant a minimum total of 10,000 hectares.
9 August 2021
Enquiries:
|
M.P. Evans Group PLC |
Telephone: +44 (0) 1892 516333 |
Peter Hadsley-Chaplin, executive chairman
Matthew Coulson, finance director
|
Peel Hunt LLP (NOMAD and joint broker) |
Telephone: +44 (0) 20 7418 8900 |
Dan Webster
Andrew Clark
|
finnCap (Joint broker) |
Telephone: +44 (0) 20 7220 0500 |
Tim Redfern
Chris Raggett
|
Hudson Sandler (Financial PR) |
Telephone: +44 (0) 20 7796 4133 |
Charlie Jack
Elfie Kent
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