INDONESIA PRESS-Intiland eyes 500-hectare land acquisition in East Java -reports

Wed Jun 18, 2014 10:18pm EDT

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Property developer PT Intiland Development will acquire 500 hectares of land in East Java to expand its industrial estate, said Corporate Secretary Theresia Rustandi.

The company plans to use 540 billion rupiah ($45.8 million) of its capital expenditure to finance the acquisition. The total capital expenditure for 2014 will be about 1.8 trillion rupiah ($152.7 million). (Kontan, Investor Daily, Bisnis Indonesia)

Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11790.0000 Rupiahs) (Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)