Reuters - 2006-11-23 14:18:55
JAKARTA, Nov 22 (Reuters) - Indonesia's largest listed plantation firm, PT Astra Agro Lestari Tbk (AALI.JK: Quote, Profile, Research), plans to increase capital spending in 2007 to 700 billion rupiah ($76.65 million) to expand its oil palm plantations and build new mills, its finance director said on Wednesday.
The company has said it will spend between 500 billion and 600 billion rupiah this year.
"It will be used to expand by 15-17,000 hectares oil palm plantations in East Kalimantan and to build two new palm oil mills in Southeast Kalimantan and Riau, with construction expected to begin early next year," finance director Julie Syahtari told reporters.
The plantation unit of the country's leading auto retailer, PT Astra Agro International Tbk, currently manages 201,412 hectares of oil palm plantation.
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