SMART plans $92m in capex

Publicly listed palm oil firm PT Sinar Mas Agro Resources and Technology (SMART) will spend Rp 920b (US$92m) in capital expenditure this year.

Smart director Jimmy Pramono said after a shareholders' meeting on Monday that the company was planning to build three new processing plants this year with a total investment of Rp 390 billion.

He elaborated that one plant would be located in Kalimantan with a total capacity of 180,000 tons a year. The other two would have a total capacity of 425,000 tons a year.

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