JAKARTA: Palm oil producer PT Tunas Baru Lampung Tbk (TBLA), the producer of cooking oil Rose Brand, will allocate a capital expenditure (capex) of IDR559 billion next year to develop business.
Deputy President Director of Tunas Baru Lampung Sudarmo Tasmin revealed the fund would come from cash equities and banking loans. However, the composition was still being discussed. "Our capex always comes from cash equities and banking loans," he said yesterday. Sudarmo explained IDR259 billion of the total capex would be used to expand oil palm plantation areas by 6,000 hectares in Palembang and 3,000 - 4,000 hectares in Pontianak. Moreover, around IDR200 billion would be used to finance routine activities like road construction, armada procurement, heavy equipment maintenance and revitalization, and others. In the meantime, the rest IDR100 billion would be used to develop and operate pier and stockpiling tank at Panjang port. The pier is expected to be finished by the end of next year and start operation by 2012. The pier will be built together with state port operator II (Pelindo), under revenue sharing scheme, within 25 years. Sudarmo said all of the investments would be made by the company. At the pier, the company would not only accommodate Tunas Baru Lampung cargoes, but also other cargoes. "The partnership with Pelindo is only in terms of revenue sharing. We remain the majority shareholder since the entire investment to build the infrastructure will come from us. Pelindo only provides the land. (wiw)
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