Bukaka plans to acquire nickel mine
Friday, May 27 2016 - 01:38 AM WIB
IDX-listed engineering and construction firm PT Bukaka Teknik Utama Tbk plans to acquire a nickel mine in Sulawesi this year as part of expansion program, Kontan reported on Friday.
?Construction of our (nickel) smelter is delayed. This is the right time to acquire mines,? said Director Devindra Ratzarwin, adding that the company has allocated Rp 10 billion of its planned $335 billion capital expenditure this year.
He did not provide further details about the planned acquisition.
Bukaka last year announced plan to develop a nickel smelter in Palopo, South Sulawesi, with total estimated investment of around Rp 400 billion. The company initially planned to source the nickel ores from mines located in the Palopo region. (*)