Investor Daily: Elnusa Plans to Spend $400M on Investment in Coming Year
Oil and gas company PT Elnusa plans to spend $400 million on investment over the next three to four years to buy new equipment, Chief Executive Elia Massa Manik told Investor Daily.
The company hopes to expand its domestic market share by 10 percent, up from 4 percent. The firm is targeting net profit of 138 billion rupiah ($12.5 million) this year and 500 billion rupiah by 2017. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,000 rupiah)
(Compiled by Jakarta Newsroom; Editing by Anand Basu)
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