JAKARTA. PT Indocement Tunggal Prakarsa Tbk (INTP) is targeting to record conservative growth this year, only 3% -4%, due to oversupply in the market.
Antonius Marcos, Corporate Secretary at Indocement Tunggal Prakarsa, said Indocement's production volume in 2019 reached 18 million tons. It means that Indocement only targets its production volume to reach 18.54 million tons-18.72 million tons.
This year, Indocement has prepared a capital expenditure (CapEx) of Rp 1.4 trillion. 40% more than last year's budget. The CapEx budget will be allocated to complete the refused derived fuel (RDF) or waste processing facility at the company's plant in Citeureup, West Java, the company's quarry in Pamoyanan, Bogor, and for bag filter installation in several of Indocement's plants.
In addition, the CapEx budget will also be used to finance the installation of power plants owned by Perusahaan Listrik Negara (PLN) and revitalize turbines at the Tarjun Plant, South Kalimantan. "The source of CapEx budget is from internal cash," Antonius said as quoted by KONTAN recently. (AM/AR)