Nov 11, 2010

Astra Agro sets US$150 mio capex

Palm oil maker PT Astra Agro Lestari Tbk has allocated US$150 million for capital expenditure (capex) of next year.
Finance Director of Astra Agro Lestari Santosa said the fund is derived from internal cash and will be used for business development.
He explained the capex to be allocated for constructing three crude palm oil (CPO) refineries has a production capacity of 45 tons per hour. "The rest will be used for infrastructure maintenance," he said.
Santosa said the company is still looking for the land to be acquired and expects to realize the project in the next year. As for this year, he said, there is no land acquisition in the company's plan.
"For the acquisition, we are now still looking for the land. We have seen places in Papua New Guinea, Irian, and others. There is thing to be exposed and things that are not. The fact, now we are still in a process of searching, so I can not reveal the detail," he explained. 

Disclosure: No position at the stock mentioned above. 

Print This Article

No comments: