Wed, 22 Jul 2009
From: Reuters
JAKARTA, July 21 (Reuters) - Indonesia's PT Bakrie Sumatra Planations said on Tuesday it expects its palm oil output to rise 17 percent to 420,000 tonnes in 2010, boosted by increased output from maturing plantations.

Bakrie Sumatra, the world's 15th largest listed palm plantation firm by market value, would also seek about $110 million in bank loans next year to finance the planting of around 36,000 hectares (88,960 acres) of new oil palm estates, President Director Ambono Janurianto said in an interview.

Two banks had previously indicated their support for the expansion plans a year ago, but a sharp drop in palm oil prices, coupled with the global financial crisis and recent bomb attacks in Jakarta, could make it more difficult to raise funds, he said.

'We are keeping all the channels open. We will keep trying to find ways to get funding although the circumstances are quite difficult, especially after recent incidents,' Janurianto said.



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