AKR allocates Rp 600b for capex
Friday, April 29 2016 - 02:34 AM WIB
IDX-listed logistics company PT AKR Corporindo Tbk, which is engaged in fuel distribution, has allocated Rp 600 billion for capital expenditure this year, among others to be used in financing new gasoline stations (also known here as SPBUs), and for the construction of the Jakarta Tank Terminal project.
AKR Director Suresh Vembu said on Thursday that the company plans to build 20-25 new SPBU units this year in Java, Sumatra and Kalimantan. The company currently operates 529 units of SPBU, of which 455 are located in Java, 41 in Sumatra, 32 in Kalimantan, and one in Bali.
?For the Jakarta Tank Terminal, we?ll build with a capacity of 250,000 kilo liters in (the) Tanjung Priok (port complex, in Jakarta),? he said, adding that a similar facility is also planned in Surabaya, East Java.
Suresh said that part of the capex will also be used to finance the construction of a 23 MW gas-fired power plant at the Java Integrated Industrial Ports and Estate (JIPE) in Gresik, East Java. This is part of the first stage of the planned total 525 MW to be developed over a three-year period. ?The project (first stage) is currently in the feasibility study phase, and we project it to start operation in 2017. In the first stage, we allocate $23-25 million,? he said.
Editing by Reiner Simanjuntak