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Jakarta Post

Unilever sets aside $427m for expansion

  • The Jakarta Post

Jakarta   /   Fri, May 20 2011   /  08:00 am

PT Unilever Indonesia Tbk, a subsidiary of Anglo-Dutch consumers good giant Unilever, will allocate between ¤300 million (US$427.4 million) and 350 million euros over two years for capital expenditure to support expansion plans in Indonesia, a senior executive said.

 Unilever general manager and corporate secretary Sancoyo Antarikso said in Jakarta on Thursday that the funds would sourced internally and through bank loans.

Sancoyo said the new investments would be used to partly finance the construction of new factories at Cikarang, West Java, and in Rungkut, East Java.

“Unilever owns a large tract of land in these two areas,” he said at a press conference following
the company’s annual shareholder meeting.

At the same event, Biswaranjan Sen, Unilever’s supply chain director, said the additional investment was needed not only to