Provident Agro Sets Capital Expenditure at Rp 500b
Bareksa • 13 Jun 2014
Workers collect palm oil fruits inside a palm oil factory in Sepang, outside Kuala Lumpur (REUTERS/Samsul Said)
Provident saw its FFB production rise by 39 percent year-on-year to 75,616 tons.
Bareksa.com - Quoted from The Jakarta Globe, Provident Agro, an Indonesain palm oil producer, has set aside Rp 500 billion ($42 million) in capital spending to finance its expansion plans this year, according to a company executive.
Provident Agro aims to increase its CPO production by 23.45 percent to 100,000 tons this year, from 81,000 tons produced last year. Its first-quarter CPO output rose by 21 percent to 22,374 tons, compared to 18,483 tons during the January-March period of 2013