Nov 8, 2010

Astra Agro aims to add 5 new CPO mills

CPO player PT Astra Agro Lestari Tbk (AALI) is aiming to build five new palm oil mills. Three mills, are being developed, is estimated to complete by 2011.
Astra Agro Finance Director Santosa said the three new mills are located in East Kalimantan, Central Kalimantan, and South Kalimantan.
"The company requires Rp120 billion-Rp130 billion to build the mills," he said as reported a local newspaper today.
About Rp650 billion financing will be required by Astra Agro to build five palm oil mills with capacity of 45 tons of fresh fruit bunch per hour per mill.
The company will use capital expenditure of US$150 million to develop the new mills. As of September 2010, it had spent Rp1.03 trillion.

Disclosure: No position at the stock mentioned above.

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