UT may spend Rp 2t for capex<\/p>\n
JAKARTA: Publicly listed PT United Tractors (UT), a heavy
\nequipment unit of diversified group PT Astra International, may
\nspend around Rp 2 trillion (US$204 million) in capital
\nexpenditures (capex) next year, primarily for expanding its
\nmining activities.<\/p>\n
The money will be mostly allocated for buying heavy equipment
\nand spare parts to support the activities of its mining
\ncontractor subsidiary PT Pamapersada Nusantara (Pama), UT
\ncorporate secretary Chandrawati Waas said over the weekend.<\/p>\n
\"About 20 percent of the capex will come from our internal
\ncash, while the remaining 80 percent will be from bank loans,\"
\nshe said, adding that the investment would help the company meet
\nnext year's revenue target of around Rp 13 trillion.<\/p>\n
In 2004, Pama secured a secured a 10-year exploration contract
\nworth $1 billion in 2004 from PT Kaltim Prima Coal (KPC) to mine
\ncoal at its site in Bendili, East Kalimantan.<\/p>\n
Pama currently holds similar exploration contracts with PT
\nAdaro Indonesia -- the country's largest coal producer -- state-
\nowned PT Tambang Batubara Bukit Asam, PT Indominco Mandiri, PT
\nMulti Harapan Utama and PT Kideco Jaya Agung.<\/p>\n
Publicly listed Astra International controls 58.4 percent of
\nUT. During the first nine months of this year, UT recorded a
\nconsolidated net revenue of Rp 9.78 trillion, or 46.4 percent
\nhigher than Rp 6.68 trillion recorded in the same period of last
\nyear. -- JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ut-may-spend-rp-2t-for-capex-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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