Baramulti expands infrastructure facilities

IDX-listed coal miner PT Baramulti Suksessarana Tbk (BSSR) has allocated US$11 million in capital expenditure for this year to finance the development and installation of new coal infrastructure facilities, reports said on Friday.

BSSR Finance Director Eric Rahardja said that the facilities include new barge loading conveyor in Lok Buntar, South Kalimantan, and a coal crusher with a capacity of 1,000 tons per hour. In addition, the company also plans to develop floating crate on the Puting River near the concession of its subsidiary PT Antang Gunung Meratus.

?Much of our capex will be used to expand infrastructure facilities,? he said as quoted by Kontan.

He said that the new infrastructure facilities will help the company to achieve higher production target of 7 million tons next year, from the projected 5.5 million tons for this year. Last year, it produced 4.1 million tons.

Elsewhere, Eric said that revenue in the first quarter of this year increased by 12.53 percent to US$42.99 million from $38.20 million in the same period of last year. But net profit dropped by 37 percent to $370,947 during the quarter.

Harum, however, has set a target for revenue this year to grow by 20 percent from $143.17 million last year. (*)