HELSINKI: SaraRasa Bioindo Pte. Ltd.’s fully owned subsidiary PT SaraRasa Biomass (Company) has decided to expand its production at the factory site in Surabaya.

The current production capacity will increase by over 20% and the warehouse storage capacity by over 100% compared to 2020. The new production construction is expected to be completed by August 2021.

The expansion at the current site is expected to improve the profitability of the factory due to economy of scale and will be financed with Company’s excess cash reserves.

SaraRasa Bioindo Pte. Ltd., a pellet producer using residual materials from wood working industries, owns and operates a wood pellet production line in Surabaya, Indonesia. SaraRasa’s main shareholders are Navdata Oy, Dovre Group Plc and Finnfund.

Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. Dovre Group has offices in Canada, Finland, Norway, Singapore and the US, and employs more than 600 people worldwide. Dovre Group is listed on Nasdaq Helsinki (symbol: DOV1V). www.dovregroup.com