JAKARTA (Yosefardi) – Oil and gas service firm PT Elnusa Tbk (ELSA) plans to acquire biodiesel processing company for US$10-15 million.
ELSA targets to operate its biodiesel entity this year, in partnership with a listed plantation company. The investment in biodiesel business is expected to reach US$20 million, equivalent Rp220 billion.
At first phase, Elnusa targets to produce 100,000 kiloliters of biodiesel.
ELSA also mulls to seek loan of US$840 billion, to fund this year’s capital expenditure (capex) of Rp1.2 trillion.
The company claims it had repaid US$36 million bank loan in 2013, then the outstanding loan declined to US$62 million.