JAKARTA: PT Perkebunan Nusantara (PTPN) II secured IDR 1.07 trillion credit facility from PT Bank Rakyat Indonesia Tbk (BRI).President Director of PTPN II Batara Moeda Nasution confirmed that the fund will be allocated to expand its business leading to higher business performance from both higher revenue and income.Thats time for rising year. The fund facility is supposed to boost our expansion. We expect for palm plantation over next five years to generate income to 100% and keep expanding sugar revitalization, he said today.He explained that the fund consisted of IDR165 billion for working capital facility and IDR840 billion for financing of cultivation working capital in sugar and palm sectors as well as for palm district investment and sugar revitalization.Minister of State-Owned Enterprises (SOEs) Mustafa Abubakar also welcomed for the cooperation. He also expects for the capital injection from BRI to escalate performance of the state-owned plantation company.Then, he also mentioned that the revitalization project of sugar industry has been executed by PTPN II since 2007. Next, in 2008, the state-owned company gained aid funds from BRI. Thus, Mustafa hopes for the synergy to be continued.We will support the companys plan to achieve the higher-income target to significantly 300% for the next 3 years. Besides, for fund needs, PTPN II should also anticipate the weather change to achieve its production target as well, he exposed. (t01/wiw)

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