Charting Growth: RGE’s Sustainable Expansion Journey in 2023

2023 was an exciting year for RGE with new ventures and acquisitions taking us further downstream and closer to consumers than ever before, while doubling down on our commitment to sustainability.


As RGE embarks on 2024, our assets have grown to more than US$35 billion, supported by a workforce of 70,000 employees. Through our forward-thinking approach, RGE has entered a new phase of sustainable and profitable expansion.

Among the notable highlights for 2023:

Entering sustainable aviation fuel market with Apical/Cepsa joint venture

RGE, through Apical and Bio-Oils, established a joint venture with Spanish energy company Cepsa to produce second generation (2G) biofuels by constructing what will be the largest plant in Southern Europe. The joint venture will involve an investment of up to €1 billion and is a key milestone in RGE’s strategy to produce a range of fuels to decarbonise aviation, maritime and land transportation. Apical will provide majority of the feedstock supply for the plant from its agricultural waste and residue through a global, long-term agreement with Cepsa.

Commencing construction on Woodfibre LNG – the world’s first net zero LNG export facility

Being built near Squamish, British Columbia, Canada, Woodfibre LNG achieved its first construction milestones with the steel cut for the specialised liquefied natural gas (LNG) modules in Qingdao City, China. The ceremony took place at the Qingdao McDermott Wuchuan (QMW) steelyards in mid-2023.

Launching Bracell2030 in Brazil

Bracell held the “Bracell 2030: Construction of a Legacy for a Sustainable Future” conference in Brazil, where industry experts, government authorities and NGOs gathered to discuss the necessary actions to build a more inclusive and sustainable future. During the event, the company also launched Bracell 2030, its strategic sustainability agenda for 2030, which defines the company’s strategy and sustainability priorities for the coming years, focusing on generating positive impact on climate, nature and people.

Producing FINEX fibre with 50% recycled content under Sateri

FINEX™, which is an abbreviation for “Fibre Next”, is composed of bio-based natural fibres created from a combination of recycled pre- and post-consumer textile waste and certified wood pulp from renewable plantations. Sateri has scored another breakthrough in recycled fibre by successfully producing a batch of FINEX™ fibre with up to 50% recycled material. This was a significant milestone of its Vision 2030 targets, which includes utilising textile waste to make viscose fibres with 50% recycled content by 2023 and 100% by 2030. More importantly, this accomplishment brought Sateri closer to achieving its aspiration of becoming a fully circular business.

Celebrating 10 years of Restorasi Ekosistem Riau (RER), restoration and conservation on Indonesia’s Kampar Peninsula

Restorasi Ekosistem Riau (RER) has been operational for 10 years, committed to large-scale protection, restoration, and active management of the forests in Riau. Over the past decade, RER has demonstrated how a production-protection model can deliver lasting benefits to people and nature. RER has taken huge strides forward on the journey to restore the peatland forest ecosystems of Riau. From the initial surveys that established restoration priorities, to old canal closures, replanting programmes, and the release of wildlife species, every step on this journey has taken us closer towards a more sustainable future.

Acquiring OL Papéis in Brazil and CoRou in China, and announcing plans to acquire Vinda International

RGE completed the acquisition of OL Papéis in Brazil, reinforcing its expansion strategy in Brazil and marking its entry into the tissue and baby diapers market. RGE also successfully closed the transaction to buy CoRou in China. After integrating with RGE, CoRou will adopt a dual-prong approach to market development, prioritising channel expansion and product development. RGE also announced an offer to acquire Vinda International, reinforcing our position in the North-Asia tissue market.

As we look forward to a year ahead, our commitment to our founder’s philosophy remains resolute – prioritising the well-being of the Community, Country, Climate, and Customer, recognising that only through these commitments can it ensure the good of the Company.