Plantation company PT Astra Agro Lestari plans to increase its rubber plantation by 2,000 hectares this year, adding to its existing 500-hectare of rubber plantation in Central Kalimantan, to supply Astra's tyre production unit PT Astra Otoparts, said Finance Director Rudy Chen.
Astra Agro, a unit of PT Astra International, plans to spend more than 3 trillion rupiah ($262.7 million) on capital expenditure this year, slightly up from its capex in 2012 at 2.87 trillion rupiah ($251.3 million).
The firm will use the funds to expand its plantations, develop palm oil processing factory and build infrastructure. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11420.0000 Indonesian Rupiah) (Compiled by Jakarta Newsroom; Editing by Anand Basu)