Cement producer PT Semen Baturaja plans to spend 750 billion rupiah ($61.58 million) on capital expenditure this year, up 87 percent from last year, to boost output and finance operating costs, said CEO Pamudji Rahardjo.
The firm plans to build a new factory with a total investment of up to 2.9 trillion rupiah to increase its production capacity to up to 3.85 million tonnes per year, up from the current 2 million tonnes a year, the Investor Daily reports.
The company said it expects revenue of 1.4 trillion rupiah this year, up 19 percent from last year and net profit of 350 billion rupiah, an increase from last year’s 325 billion rupiah.
* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,180 rupiah) (Compiled by Rin Hindryati; Editing by Supriya Kurane)