JAKARTA – PT Fajar Surya Wisesa Tbk (FASW’s) allocates a capital expenditure as much as US$165 million to develop a paper factory (PM8) and an energy power plant in Cikarang, West Java. The project will operate in the first semester 2017.
President Director of PT Fajar Surya Yustinus Kusumah stated loans have been collected from a banking syndicate since 2013. “All the loans from the bank syndicate is in dollar currency because the machines are bought in dollar currency,” he said at the company’s public expose in Jakarta.
The paper machine (PM8) are used to produce corrugated medium paper (CMP) with a capacity of 350,000 ton per year holding a total investment as much as US$117 million. The ground breaking of the project was executed in the previous month.
The cogeneration power plant’s investment is said to reach as much as US$48 million with capacity of 55 MWH and 220 ton per hour. The machinery for the power plant will arrive in first quarter 2016. The project will support the paper factory by providing electricity. (LK)