LISTED COMPANY - JAKARTA. PT Surya Pertiwi Tbk (SPTO), a manufacturer of sanitary products, has allocated a capital expenditure (capex) of IDR 100 billion this year. The capex fund is intended for factory expansion.
Adhi Sudargo Tasmin, the Head of Investor Relations at Surya Pertiwi, stated that the company plans to expand its sanitation product and household accessory business in terms of production facilities.
He informed that the company currently operates a factory located in Surabaya, which has two production lines. This factory is still managed by Surya Pertiwi's subsidiary.
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“At present, SPTO has two production lines, and there are plans to add more in the future because the management sees the potential growth of Indonesia and this industry is still very promising,” said Adhi, on Tuesday (16/4).
Adhi added that the new factory that SPTO plans to build will be located in Gresik, East Java.
“During the first quarter of 2024, SPTO has absorbed IDR 30 billion in capex, to create supporting facilities for the company's expansion plan,” he added.
