Bukit Asam Ready to Have More Investment "We will be involved in many tenders of the IPP projects next year"Jum'at, 3 September 2010, 11:26 WIBSiswanto, Syahid Latif
Coal mining (www.warwick.ac.uk)RELATED NEWSAdaro's Income Drops 7 Pct Coal Production of Indonesia's Bumi Rises 13% Moody's Lowers Ranking of Berau Coal NTB Has Yet to Accept Fund from Newmont Revisions Should Aim Mineral and Coal Law VIVAnews - Mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) projected that the company's capital expenditure in 2011 will be larger than this year following its plan to expand more.
"Our capital expenditure next year may be lower than this year," said PTBA Managing Director, Sukrisno, in Bank Mandiri's office, Jakarta.
According to Sukrisno, the company is predicted to work on various projects compared to this year.
"We will be involved in many tenders of the IPP projects next year," said Sukrisno.
PTBA this year allocates a capital expenditure worth Rp 1.44 trillion. The fund will among any others be used for acquiring other companies such as two mining companies in Kalimantan.
Up until the first semester of 2010, the realization of capital expenditure has reached Rp 420 billion-Rp 560 billion which will be mostly used for opening out mining infrastructures.
PTBA is targeting that the production volume in 2010 will reach around 15 million tonnes. Earlier in 2009, the company sold 12.5 million tonnes with a total production of 11.6 million tonnes.
KRL Price at posting:
19.0¢ Sentiment: ST Buy Disclosure: Held
