Reuters - 2006-12-08 10:03
NUSA DUA, Indonesia, Dec 7, 2006 (Reuters) - Indonesia's largest listed plantation firm, PT Astra Agro Lestari Tbk, is looking to buy small plantation firms at home and in Malaysia, a top company official said on Thursday.
"We are looking for aquisitions, we are at looking at small plantation firms in Malaysia and Indonesia. That will be our strategy for growth," Gunawan Lubis, area director for palm plantations at the firm, told Reuters on the sidelines on a palm oil conference in the resort island of Bali.
"Our top priority will also be to develop new plantations in Kalimantan and Sulawesi," he added.
Astra Agro has said it plans to increase capital spending in 2007 to 700 billion rupiah ($76.92 million) to expand its oil palm plantations by 15-17,000 hectares and to build new mills with construction expected to begin early next year.
The company will spend between 500 billion and 600 billion rupiah this year.
The plantation unit of the country's leading auto retailer, PT Astra International Tbk , currently manages 201,412 hectares of oil palm plantation.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.