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Home arrow Latest News arrow Indorama Synthetics Prepares Capital Expenditures of US $ 12 Million Until Quarter I-2019


				
			
			
Indorama Synthetics Prepares Capital Expenditures of US $ 12 Million Until Quarter I-2019 PDF Print E-mail
Written by Maizer   
Wednesday, 22 May 2019

PT Indorama Synthetics Tbk (INDR) prepares capital expenditure (capex) of US $ 44 million during 2019. Until quarter I-2019, the capital expenditure budget that has been absorbed reaches US $ 12 million.

 

Total capital expenditure is allocated for expansion of polyester (yarn) and spinning (spun yarn) products. "Our capacity increases by 5% to 7% from the current average capacity," said President Director of Indorama Synthetics, Vishnu Swaroop Baldwa.

 

The plan is around US $ 7 million from capex will be used for INDR's subsidiaries in Turkey. Around US $ 37 million for Indonesian factories in Purwakarta. The INDR factory in Indonesia is located in Purwakarta Jatiluhur and Cempaka.

 

Vishnu further explained that source of capital expenditure came from internal companies. "If needed, we will take facilities from banks that have not been utilized by the company," Vishnu said again, explaining that there is no need to look for new sources by simply utilizing the available funding sources.

 

The absorption of capital expenditure so far has been used to finance machinery and equipment for production preparation which will be carried out starting in the third quarter of 2019.

 

Previously, INDR received US $ 55.13 million in fresh funds from shares sale of subsidiary PT Indorama Pethrochemicals Indonesia (PTIP). The fresh funds are used for corporate loan payments from banks.

 

 

 

 
		
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