JAKARTA: The producer of Rose Brand cooking oil, PT Tunas Baru Lampung Tbk (TBLA), sets a IDR559 billion of capital expenditure (capex) to develop its business unit.
Deputy President Director Tunas Baru Lampung Sudarmo Tasmin said that such fund shall be derived from internal source and banking loan. The financing composition is still being reviewed at the moment.Out capital expenditure is always derived from internal source and banking loan, probably around 35%:65% or 50%:50%, we will first examine out internal cash condition later, he said today.Sudarmo said that nearly IDR259 billion of the total capex shall be utilized to expand palm oil plantation area as wide as 6,000 Ha in Palembang and 3,000-4,000 Ha plantation area in Pontianak.Nearly IDR200 billion of the capex shall be allocated to run the routine operational activities such as road construction, establish new fleets, heavy equipments maintenance and rejuvenation, etc.The remaining IDR100 billion of capek will be executed to construct and operate the port and storage tank in Pelabuhan Panjang. Such port construction is expected to be completed by the end of next year as it will operate by 2012. The construction of the port is a product of a partnership with PT Pelabuhan Indonesia II (Pelindo) within 22 years.Sudarmo said that the cooperation with the state-owned port operator lays in the revenue sharing, thus all the investments are financed by the company. In the port, the company will contain Tunas Baru Lampungs cargos and other cargos.The cooperation with Pelindo only covers revenue sharing. We became the majority shareholders since we build the infrastructures. Thus, we are responsible for the entire investment, while the area belongs to Pelindo, he resumed. (t02/wiw)
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