SEMARANG (Yosefardi) – PT Sri Rejeki Isman (Sritex) Tbk (SRIL) had last Friday (Feb 13) launched the ground breaking for the construction of new production facility in Sukoharjo, East Java with investment cost of US$104 million, equivalent Rp1.3 trillion.
The construction of new factory is funded by bonds proceeds and targeted to complete by 2016. The company will employ 3000 new labors. Currently its labors total 58,000.
Sritex, controlled by Lukminto family, also plans to invest US$50-100 million, equivalent Rp1.2 trillion, in fashion business. It will focus to develop this retail business within next 3 years.
The company will acquire local and global brands for fashion products, while creating its own products, and build retail stores.