PT Astra Agro Lestari Tbk, the plantation unit of PT Astra International Tbk, is planning to expand into the poultry feed and sugarcane plantation businesses, said CEO Widya Wiryawan.
A source said Astra plans to acquire a poultry feed firm in East Java and is seeking a minimum of 3,000-hectares of land for its sugarcane plantations.
The company is targeting 15.8 trillion rupiah ($13.20 billion) in revenue this year, up 25 percent from last year's 12.67 trillion rupiah. Revenue in the first half reached 8 trillion rupiah, up from 5.4 trillion rupiah a year earlier. (Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 11,972.0000 rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)