JAKARTA (Yosefardi) – State pharmaceutical company PT Kimia Farma Tbk (KAEF) expects to only spend Rp140 billion for investing on new factory in Banjaran, Bandung, West Java, or 20% of total investment of Rp700 billion for the project.
Rusdi Rosman, KAEF’s president director, said the low investment is due to the license or permit issue for land use, instead of funding issue.
The construction of new factory is scheduled for third quarter of this year. KAEF has earlier secured loan facility commitment of Rp1.3 trillion from one foreign bank.
KAEF also plans to raise Rp700 billion through rights issue of maximum 20% shares. It also plans to issue bond worth Rp1 trillion in third quarter of this year. (yohanneso@yosefardi.biz)