Malindo's US$23 million feed mill to produce 150,000 tonnes of feed yearly

 

Indonesia's Malindo Feedmill will this year invest IDR200 billion (US$14.8 million) in a new feed mill that will boost the company's production per annum to 1.5 million tonnes, The Jakarta Post reported.

The site will based in the province of Lampung, Sumatra. The facility becomes operational by the end of 2017, and is the sixth feed mill under Malindo's stewardship, said Rewin Hanrahan, the company's director.

Rudy Hartono Husin, Malindo's finance director, commented that developing the feed mill could cost up to IDR300 billion (US$23 million). By itself, the plant produces 150,000 tonnes of feed yearly. 70% of the capex funds to build the facility would be fulfilled through bank loans, he added.

Malindo saw a 15.87% rise in net sales to IDR1.3 trillion (US$98.5 million) during the first quarter of 2016. Net profit increased 187.6% year-on-year to IDR52.15 billion (US$3.9 million). The uptrend was supported by an 11.1% spike in sales for poultry feed as well as sales increases for day-old chicks (44.1%) and broilers (1.7%).