JAKARTA, Oct 18 Asia Pulse - Sawit Mas Group has signed with Procter &Gamble Chemicals a US$1.8 billion oleochemical sales contract, the secondbetween the two sides after one valued at US$200 million signed in Januarythis year.
The contract signed in Singapore last weekend made the Sawit Mass Groupone of the largest suppliers of oleochemicals for the world's largestconsumer of natural oleochemicals.
Sawit Mas Chairman Susanto Lim said Procter & Gamble Chemicals needs thecontract to guarantee supply of feedstock for its consumer goods includingcosmetics, soap, detergent and shampoo.
Lim said the two sides have also agreed to sign a third contract valued ataround US$500 million-US$600 million.
He said the cooperation with P&G will make Sawit Mas the largestoleochemical center in the world especially with the support of its oilpalm plantations the largest of a single company in the world.
Its oleochemical complex is located in Kuala Tanjung in North Sumatraproducing fatty acid and fatty alcohol with 330,000 hectares of oil palmplantation .