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ublicly listed jamu maker PT Sido Muncul (SIDO) announced on Monday that it was developing a new plant in Semarang, Central Java, as part of its expansion strategy.

The new plant, specifically designed to process jamu extracts, will boost the company'€™s extract processing capacity to 16,000 liters per hour from the 4,000 liters per hour recorded as of now, according to Sido Muncul president director Irwan Hidayat.

'€œIt will be called the Semarang Herbal Indo Plant and will be located within our 60-hectare manufacturing complex,'€ he said.

The plant'€™s construction '€” estimated to cost Rp 200 billion (US$17.15 million) '€” is expected to be completed in six months.

Funds for the construction were generated from Sido Muncul'€™s initial public offering (IPO) last December, in which it sold 10 percent of its shares to the public and raised Rp 870 billion.

'€œBy setting a much higher capacity, we aim to expand our domestic and overseas extract sales as well because local pharmacies may be able to purchase the extracts from us instead of producing them themselves,'€ he said.

Irwan added that the extracts from the new plant would also be used to increase the production of Tolak Angin, its popular cold remedy.

At the moment, Sido Muncul manufactures around 70 million sachets of Tolak Angin per month. It claims to control the cold remedy market with a 75 percent share and expects to see its production capacity double by 2016.

Besides jamu, Sido Muncul also manufactures energy drinks, candy and beverages, health drinks and other products. Its energy drink production capacity currently stands at 1.2 million units. The production capacity of its candy and beverages has amounted to 262.3 million units, while that of health drinks has reached 37.4 million units.

Sido Muncul has not published its full 2013 financial report, but according to Irwan, it already managed to book Rp 2.13 trillion in sales as previously targeted.

 '€œWe have not released our official calculations, but I am certain that we reached our target. For 2014, we are eyeing around Rp 2.7 trillion to Rp 2.8 trillion from sales,'€ he said.

Part of its sales target would be supported by a yet to be released product, Irwan said, declining to provide details.

Meanwhile, its company profile said that it reported total sales of Rp 1.39 trillion during the period of January to July 2013. Energy drinks contributed the most to the figure with 43.3 percent, followed by jamu with 40.8 percent, candy and beverages with 13.1 percent, health drinks with 2 percent and other products with 0.8 percent.

Sido Muncul is currently the only jamu maker listed on the Indonesia Stock Exchange (IDX). The company'€™s shares ended at Rp 890 on Monday, down 2.2 percent from last Friday.