Budget Capital Expenditure Of IDR 200 Billion, Drinking Water Producer Cleo Milik Konglomerat Hermanto Tanoko Bangun Tiga Factory

JAKARTA - PT Sariguna Primatirta Tbk (CLEO), will continue its aggressive expansion in 2023. The company plans to build three new factories and continue to develop distribution networks throughout Indonesia.

"We see that the bottled drinking water market in Indonesia is still wide open, so we remain optimistic to continue expansion steps by building new factories and increasing distribution networks throughout the country," said Deputy President Director of Sariguna Melisa Patricia in a written statement, Monday, December 5.

The construction of new factories and the opening of branches of new distribution networks in various locations throughout Indonesia, is not without reason.

This is one of Cleo's drinking water producer issuers' strategies by conglomerate Hermanto Tanoko to reduce expensive distribution costs while at the same time bringing the Company closer to consumers.

The company has also budgeted a capital expenditure of IDR 220 billion to develop distribution networks, especially outside Java, such as in Sumatra and Kalimantan.

As for the factory, this year the Company is expanding five factories and building three new factories.

Of the five factory expansion projects, the Company has completed the expansion of factories in Banjarmasin, Citeureup, and Bojonegoro.