Astra International will focus its expansion on three sectors
JAKARTA. PT Astra International Tbk. will focus on expanding in three sectors (heavy equipment, automotive, and infrastructure) and will allocate a budget of Rp 20 trillion-Rp 25 trillion for that purpose.
Head of Corporate Communications of Astra, Boy Kelana Soebroto said that the budget consisted of CapEx) budget (Rp 15 trillion) and investment budget (Rp 5 trillion-Rp 10 trillion).
"Investment will be made according to the opportunities available. All of the CapEx budget come from internal funds, "he explained as quoted by Bisnis last week.
The budget for heavy equipment will be used by PT Pamapersada Nusantara, a subsidiary of PT United Tractors Tbk. (UNTR)
In 2019, Astra spent Rp 22 trillion on CapEx and investment. Boy explained that the realization in 2019 was not as big as 2018 because at that time Astra acquired Martabe gold mine for US$ 1.5 billion. (AM/AR)