September 11, 2007

Indonesian poultry company seeks US$33 million bank loan to expand
 

Publicly listed poultry breeding company PT Sierad Produce said it is seeking bank loans of Rp 300 billion (US$33.3 million) to strengthen its working capital.

The company said it has held negotiations with banks on its loan proposal.

Sierad has set aside Rp48 billion (US$5 million) in capital expenditure for poultry breeding farms.

The company has 12 breeding farms in West Java and East Java and plans to expand the number of farms to meet growing demand.