ANJT Plantation Company Expands Operations with $45 Million Investment

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– PT Austindo Nusantara Jaya Tbk (ANJT), a leading plantation company, announced plans to expand its operations in 2023 with a capital expenditure of $45 million. The funds will be used for re-planting, construction of a compost factory, and other expansion projects.

ANJT's Chief Financial Officer, Nopri Pitoy, expressed optimism about the company's financial performance in 2023, although no specific growth targets were mentioned. 

To support sustainable growth, Pitoy stated that the company has allocated the majority of the capital expenditure funds towards expansion projects in Pulau Belitung and North Sumatra. Funds will also be used for the construction of a compost factory in West Kalimantan and North Sumatra, as well as the completion of supporting infrastructure in West Papua.

However, Pitoy noted that extreme weather conditions may impact the company's production of crude palm oil (CPO) in 2023. Despite this potential challenge, ANJT remains optimistic about its ability to achieve growth in CPO production next year, targeting a roughly 10% increase. 

This optimism is supported by the addition of new plantation areas in Papua starting in 2023, as well as re-planting projects in Belitung and North Sumatra. ANJT is also targeting an increase in production from prime plantations, primarily located in Kalimantan and North Sumatra II.

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