Indonesian plantation company PT Bakrie Sumatera Plantation has received a loan pledge of US$75 million and Rp350 billion (US$38 million) from a Singaporean bank.
Company president Ambono Janurianto said the funds will be used to finance expansion of oil palm plantation to cost around US$244 million.
The total cost will be covered with US$100 million in equity and US$144 million in bank loans, Ambono said.
This year the company hopes to produce 420,000 tons of crude palm oil (CPO) and 30,000 tons of rubber.
In the first half of this year the company posted Rp1.58 trillion in income or an increase of 140 per cent from the same period last year
Monday, September 22, 2008
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