June 22, 2009

Indonesia's PT Malindo Feedmill will invest RP100 billion (US$9.5 million) for the construction of an animal feed plant in Banten.

The construction will take place on a 5.4-hectare plot of land in Cikande, Serang, and will take a year to complete, according to Malindo commissioner Tan Lai Kai.

The project will be financed with part of the RP300 billion (US$28.6 million) raised last year from the company's sales of bonds, said Tan.

PT Malindo Feedmill also plans to purchase poultry farms this year, he said.