PT Panca Mitra Multiperdana expects the new factory to start operating commercially in August 2021. The building progress of the 8th factory of PT Panca Mitra Tbk (PMMP) has reached 60%.

The company engages in the export-based consumer sector, especially in the shrimp-based frozen food processing sector. Panca Mitra, which currently has seven factories, began building its 8th factory after collecting proceeds from its initial public offering in December 2020.

With the new factory, located in Situbondo, East Java, Panca Mitra targets an 11% increase in sales volume to 20 thousand tons in 2021. It also targets an increase in the sales portion of value-added products marketed by the company.

"We can say that the current progress for the initial construction is complete, the steel installation work was also completed last week. Our target is that the construction can be completed in July 2021. Then, we can start a test run and a commercial operation date starting in August 2021," said Panca Mitra Multiperdana, President Director, Martinus Soesilo, in Jakarta, Wednesday (24/3).

Meanwhile, Panca Mitra Multiperdana Marketing Director, Patrick Djuanda, revealed that for the 8th factory, the company had signed a confidentiality agreement with major consumers related to the development of the company's latest value-added variant, namely pre-fried breaded shrimp.

"As planned, this pre-fried breaded shrimp product will be produced in the 8th factory. We have also started discussing with potential customers, especially from the US and Japan, for the development of these products. We will announce the value later, "said Patrick.