Analisis pembangunan dan pembiayaan pabrik pengolahan kelapa sawit di kabupaten barat, propinsi nanggroe aceh darussalam

Analysis of Developing and Financing Palm Oil Factory In West Aceh Regency, Nanggroe Aceh Darussalam Province Cut Idaman Sari The area of farmers palm oil plantation in Nanggroe Aceh Darussalam (NAD) Province has been growing substantially since the mid 1990s. As a consequence, today, the fresh fruit bunches (FFB) cultivated need more processing facilities, otherwise it will become useless. At the present time, the available processing plants belong to the big palm oil companies. Since their own plantations have produced more FFB, the big estates emphasize in processing their own cultivation. To solve the problem, the government of NAD Province is considering to establish palm oil factories. The purpose of this study is to analyze the feasibility of establishing the palm oil factory and its financing sources in NAD, specifically in the Western Aceh Regional. Data were collected from primary and secondary sources, both from the project sites and the government of NAD, including the printed materials from various sources. In evaluating the feasibility of the construction of the factory, this study used Payback Period (PP), Net Present Value (NPV), and Internal Rate of Return (IRR) methods of measurement. Meanwhile, in analyzing the financing source, this study evaluates the blend of equity and loan. This study also evaluated the possibility of involving the farmers as the owners (shareholders) of the factory within a certain period of time. This study proves that the Payback period is 3 years and 5 months,and by using a 16 .% discount rate, the NPV is Rp.9.651488.000,- and the IRR of the project is 33 %, .Using these criteria, the establishment of the palm oil factory is considered to be feasible; and the financing source are 40% coming from the Local Government of NAD Province, that will be released gradually to the farmers by deducting part of FFB sales revenue, as the equity, and 60% investment loan from the Regional Development Bank of NAD. The potential of paying back the loan from the Local Development Bank of NAD is within 10 years. Meanwhile, the transfer process of the Local Government shares to the farmers will been accomplish within 8 years of factory operations. This will allowed the farmers to have an 80% of the factory equity. Based on this study, it is suggested that the government of NAD Province to prepare and implement the project as soon as possible. Using such financing scenario as part of government policies will be considered the realization of the empowerment of the farmers. It is also suggested that other region within the province of NAD could establish the palm oil factories using the same scenarios of financing. Hopefully, within several years, the lack of palm oil processing facilities in the NAD province will be overcome