JAKARTA (Yosefardi) – Motorcycle distributor and financing PT Mitra Pinasthika Mustika Tbk (MPMX) plans to build a lubricant plant in West Java which cost Rp340-390 billion.
The plant will have production capacity of 100,000 kilo liters of lubricant. Currently MPMX’s lubricant production capacity, under brand of Federal Oil, only reaches 45,000 kilo liters.
The construction of new plant is scheduled for next year and will complete by 2016.
MPMX, through its unit MPM Global Pte Ltd had issued US$200 million senior bonds, which will mature in 2019. The company allocates capital expenditure (capex) of Rp2.3 trillion for this year.