JAKARTA. An aluminium manufacturer, PT Alumindo Light Metal Industry Tbk (ALMI), has set its capital expenditure budget to USD 6 million in order to boost its production capacity by 50%.
Chief Financial Officer of Alumindo, Welly Muliawan, confirmed that ALMI decided to double its capital expenditure budget this year, from USD 3 million to USD 6 million. This capital expenditure will be used to increase the production capacity, which is targeted to reach 50% higher. “The capital expenditure will be utilised to modernising and purchasing more coil machines,” he added in the disclosure in Jakarta yesterday (31/8).
Muliawan wishes that by elevating the production capacity, ALMI may solidify its position in the conventional export market destinations, such as the United States, as well as European and Asian countries. His company is also looking for markets aside from China, as said country is less promising due to the Zero COVID-19 policy implemented by Xi Jinping.
Muliawan believes that the China-Taiwan conflict and the Russia-Ukraine war might trigger new prospects for aluminium products, as Europe and North America start to seek alternative importer from Asia outside China. (AM/ZH)