Charoen Pokphand Indonesia invests in expansion
Processed chicken producer PT Charoen Pokphand Indonesia (CPI) is to allocate over US$170 million for capital expenditures to support expansion plans.
The funds would be sourced internally, even though bank loans were available stated CPI director Ong Mei Sian. The company will spend the funds increasing the capacity at existing plants, relocate an existing plant in Lampung and build a new plant in East Java.
CPI, produces poultry feed, day-old chickens (DOC) and processed chicken and is the local subsidiary of the Thai conglomerate Charoen Pokphand Foods. It currently has seven plants – one each in West Java, Central Java, Lampung, North Sumatra and South Sulawesi and two plants in East Java.
CPI president director Thomas Effendy said the company was targeting to increase sales 15% and profits 10% this year with the investment.
Source: The Jakarta Post
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