AKR Corporindo Targets Development Of Up To 50 Gas Stations In 2024

Illustration (Photo: Doc. Antara)

JAKARTA - Oil distribution issuers and basic chemicals of PT AKR Corporindo Tbk. (AKRA) plans to open up to 50 BP-AKR public gas stations (SPBU) by 2024.

Director and Corporate Secretary AKRA Suresh Vembu said that in 2024 it plans to open around 40 to 50 BP AKR gas stations and will continue to expand in several areas, especially in East Java, West Java and several other areas.

"In 2024 we have plans to open around 40-50 gas stations again. Where our target is to open around 350 gas stations throughout Indonesia with the AKR brand in the next 5-6 years," said Suresh in a public expose live 2023, Tuesday 28 November.

In 2023, Suresh said that her party had built 50 gas stations with the AKR brand and had around 130 gas stations and SPBN with the AKR brand which had been operated to sell subsidized fuel.

Suresh said AKRA had realized capital expenditure (capex) of around Rp350 billion to Rp400 billion in 2023.

The realization of the capex is used for a number of things, including the addition of ships and a fleet of trucks, the addition of BP AKR gas stations, and others.

In the future, Suresh conveyed that AKRA's many monetable investments such as integrated Industrial and Port Areas (KEK JIIPE Gresik), and hoped that with the addition of ships and truck fleets, additional BP AKR gas stations, and others would be able to improve performance in 2024.

"With the JIIPE project, we see many prospects for land sales and also in 2024 with several industries or factories such as smelters, glass and candles starting to operate, we believe we can grow double digits," he explained.

AKRA President Director, Haryanto Adikoesoemo, underlined that the Company's growth factor includes trade and distribution of basic chemicals and fuel, as well as investment in integrated Industrial and Port Areas (KEK JIIPE Gresik), is expected to encourage the Company's growth in the next period.

Haryanto explained that AKR's performance shows consistent results as an efficient supply chain solution to customers, so AKRA can become a leading private company in the distribution of basic chemical products and fuel.

"With a strong and disciplined business model, the Company has managed to record consistent results in the last 5 years as well as an increase in return on investment in capital. Currently, the Company recorded ROE 21.3 percent and ROA 7.9 percent during the period of the third quarter of 2023.," he said.