Hexindo signs US$45m maintenance deal<\/p>\n
JAKARTA (JP): Publicly listed PT Hexindo Adiperkasa renewed
\nyesterday a five-year contract with PT Kaltim Prima Coal (KPC)
\nworth US$45 million for the maintenance of mining equipment at
\nPrima's coal mine in East Kalimantan.<\/p>\n
"This is the second contract with KPC for the total
\nmaintenance of 17 excavators," Hexindo's president Rustam Effendi
\ntold reporters after the signing ceremony.<\/p>\n
The first contract worth $35 million with KPC was signed in
\n1990 for the maintenance of 15 excavators starting from 1990 to
\n1995.<\/p>\n
Rustam said that his company posted a net profit of Rp 4.8
\nbillion ($2.13 million) in the first sixth months of this year
\nand expects to book Rp 13.8 billion profits for the whole year,
\nup sharply from Rp 7.8 billion last year.<\/p>\n
He said that KPC's demand for excavators will increase by 50
\npercent in line with the company's plan to increase its
\nproduction capacity within the next three years.<\/p>\n
Hexindo, which floated its shares on Jakarta Stock Exchange in
\n1994, is a distributor of heavy equipment.<\/p>\n
Meanwhile, KPC's General Manager for Mining Peter Marshall
\nsaid that his company will increase its annual production
\ncapacity from 10 million tons of coal to 15 million tons of coal
\nwithin three years.<\/p>\n
"We will become the largest single-site coal producer in the
\nworld with 17 excavators," Marshall told Jakarta Post<\/p>\n
He said that his company's coal output is wholly exported to
\nJapan, Taiwan, the United States and European countries.<\/p>\n
KPC is owned equally by the British Petroleum company and CRA
\nLimited of Australia.<\/p>\n
Marshall said that KPC plans to float its shares on the
\nJakarta Stock Exchange next year. (04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hexindo-signs-us45m-maintenance-deal-1447893297",
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