Astra Agro to invest Rp 350b

JAKARTA: In a bid to support its business growth, publicly listed plantation company PT Astra Agro Lestari has decided to raise its investment spending this year to Rp 350 (US$38.8 million) from the initially planned Rp 293.4 billion.

In its statement to the Jakarta Stock Exchange recently, Astra Agro said that 30.9 percent of the spending would be allocated for expanding its crude palm oil production and the capacity of its processing mills.

The company, which is a subsidiary of automotive giant PT Astra International, will allocate 28.7 percent of its spending for warehousing capacity, 18.1 percent for infrastructure and 17 percent for planting activities. -- JP