Berau Coal Energy to buy two barges in 2015
Monday, January 12 2015 - 04:20 AM WIB
PT Berau Coal, a subsidiary of IDX-listed giant coal miner PT Berau Coal Energy Tbk, will buy two barges in 2015 to support it coal shipment activity in Berau, East Kalimantan.
President Director of Berau Coal Energy Tbk, Amir Sambodo said that the company has allocated about Rp 84 billion to purchase the two barges, which was taken from company IPO proceeds. The use of the funds has been approved by the shareholders, he added.
"By purchasing these two additional barges, hence the total number of barges bought through the IPO proceeds becomes eight," he said in a statement recently. Amir added that initially the company was planning to purchase about 25 units of barges through the IPO funds, but due to the bearish coal price condition, the company determined to buy only eight barges. Currently, according to Amir, the company is operating about 37 barges.
Editing by Reiner Simanjuntak