JAKARTA (Yosefardi) – PT Gozco Plantations Tbk (GZCO) sets capex of Rp300 billion for this year, funded by internal cash and bank loan, used to fund the expansion of new planting for palm.
It produced 150,000 tons of fresh fruit bunches (FFB) in 2013, lower than target of 175,000 tons. The company produced 50,000 tons of CPO and 10,000 tons of kernel last year.
GZCO expects to book sales of around Rp400 billion last year, and targets to book sales of Rp1 trillion in 2017.
As of December 2012, its plantation area totalled 110,000 hectares, of which planted area accounted for 39,000 hectares.
The company is now establishing one CPO mill and port with investment cost of Rp155 billion. The CPO mill is targeted to operate in third quarter of this year.