Electric Stanley acquires 13 Ha for Rp65 Bn
PT Electric Stanley Indonesia, automotive parts supplier for Honda and Suzuki motorcycles, purchased a parcel of land in Millennium Industrial Estate from PT Bumi Citra Permai Tbk for Rp65 billion. What Bumi Citra will do with the proceeds?
Bumi Citra told IDX that the proceeds will be used to finance its industrial estate project in Bojonegara, Banten province where the company will build a coal terminal.
"Other than that, we're looking into investment partnership with Chinese investors to build a 125 MW power plant in Millennium industrial estate," Rudi Wijaya, operational director of Bumi Citra Permai said.
Bumi Citra, an industrial estate developer, has achieved 60% of its sales target this year (Rp100 billion). The company is also in talks with Taiwan investor for 15 hectares of land in the industrial estate, which will be used to build Nike shoes factory.
Bumi Citra's stock gained 5% this morning to reach Rp315. The stock has doubled since its IPO late last year.