Palm oil player PT Gozco Plantations Tbk (GZCO) is ready to spend IDR500 billion-IDR800 billion to acquire additional land bank.
In an official statement submitted to Indonesia Stock Exchange (IDX) today, Gozco's total landbank is currently 126,194 hectares.
"The company targets to plant 32,000 hectares by the end of this year. We have planted 30,393 hectares as of September," the company said in a statement.
Gozco is stagnant at IDR425 per share with market capitalization of IDR2.13 trillion.
Disclosure: No position at the stock mentioned above.
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