JAKARTA – PT FKS Multi Agro Tbk (FISH) sets a budget of USD 50 million for its expansion plan in the transportation and logistic sector, starting this year until 2025. President Director of FKS Multi Agro, Po Indarto Gondo, announces this plan through a public expose, quoted on Tuesday (21/9).
“The estimated amount would be USD 40 to 50 million, with the biggest allocation directed to the logistic business unit. The funding source for the said plan comes from internal cash and bank loans,” Gondo explains in detail.
According to Gondo, the expansion plan involves improving warehouse capacity in several locations, like Medan, North Sumatra; Cilegon, West Java; and Cilacap, Central Java. For instance, the Medan warehouse is projected to be able to store 30,000 tons of goods in 2023, even reaching 80,000 tons in 2025.
“The bank financing for expansion purposes had been arranged for short-term, only several years in the future,” Gondo once again states.
Furthermore, the company intends to add another new jetty in Cigading Port, targeting completion by 2022. It would then increase its loading and unloading capacity from 25,000 tons to 50,000 tons per day. Additionally, there are also a new integrated warehouse construction in Cilegon and an addition of 30 trucks to the fleet planned by the end of this year. (LK/ZH)