JAKARTA. PT Petrochem Indonesia Tbk (ADMG) has prepared a capital expenditure (CapEx) budget of US$ 10 million, to increase the production capacity of its Chemical business line.
Chandra Tjong, Corporate Secretary of ADMG, said that the target is to increase the production capacity by 500 thousand tonnes. Because the project has not been completed yet, Tjong is reluctant to mention the total CapEx budget that will be absorbed by this project.
In addition, Tjong added that ADMG still relied on its internal cash flow to fund its CapEx budget this year. "There is no loan. "It is more profitable from the financial side," Tjong said when met by idnfinancials.com on Tuesday (25/6).
By the end of May, Tjong said that ADMG had spent 10% of its CapEx budget. Most of the funds are used for the company's preparation to increase its production capacity. (KR/AR)