CPO player PT BW Plantation Tbk (BWPT), that is controlled by Budiono Widodo family, is aiming to acquire 11,000 hectares of land bank in East Kalimantan with consideration price of US$18 million.
As reported by Bisnis Indonesia today, citing Corporate Secretary Kelik Irwantono, BW Plantation will use its capital expenditure to acquire the land bank.
"We hope the takeover could be completed soon. We also draw loan facility of Rp120 billion provided by Bank Rakyat Indonesia," he said.
BW Plantations will commercially operate a CPO mill with 30 tons per hour capacity in Central Kalimantan. Last year, the company produced 110,771 tons of CPO, a 21.4% increase from 91,225 tons a year earlier.
BW Plantation owns seven operating subsidiaries dubbed PT Bumilanggeng Perdanatrada (BLP), PT Bumihutani Lestari (BHL), PT Adhiyaksa Darmasatya (ADS), PT Wana Catur Jaya Utama (WCJU), PT Sawit Sukses Sejahtera (SSS), PT Agrolestari Kencana Makmur (AKM), and PT Satria Manunggal Sejahtera (SMS).
Disclosure: No position at the stock mentioned above.
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