JAKARTA. PT Salim Ivomas Pratama Tbk (SIMP) is projected to absorb Rp 1-1.1 trillion in capital expenditure (capex) in 2020.
The company will also focus on developing its upstream industry by monitoring the growth of unproductive plants in the next five years as well as developing its downstream industry by increasing the capacity of its refineries.
According to SIMP Vice President Director Paulus Moleonoto, this year the company will allocate some of its capex to build a new refinery in Jakarta and a facility to produce margarine in Surabaya.
As of June 2020, the company had 299,165 hectares of planted land, with 84% being palm plantations and the rest for rubber, sugarcane, and other plants. (AM/MS)