Cipta Kridatama, Rinjani sign new contract
Wednesday, May 9 2012 - 04:30 AM WIB
Indonesian mining contractor PT Cipta Kridatama, the business unit of PT ABM Investama Tbk has on May 8 signed US$209 million worth of five-year new mining contract with PT Rinjani Kartanegara, allowing Cipta to commence mining services on Rinjani's 1,933 hectare concession in Loa Janan subdistrict of Kutai Kartanegara regency in East Kalimantan.
The contract is effective this May.
"This is the second contract we signed this year, as we aim to get long term contracts, at least five year contracts, in 2012," said company president director Boedi Santoso in Jakarta.
Cipta stated to implement production management and integrated planning to maintain operation in the project. "It will be initiated in a program called "Project Calculator", a part of internal operation management named CSIS, an abbreviation of Cipta Kridatama Service Information System," explained ABM Corporate Secretary Ade Satari, adding that the company plans to use an online technology.
Established in April 8, 1997, Cipta Kridatama offers "mine to port" and all production stages operational services. ABM is known to allocate up to US$119 million worth of capital expenditure for the unit this year, having positively contributed up to Rp2.961 trillion or a total of 44,6 percent from ABM's Rp6.626 trillion worth of revenue in 2011.
Editing by Er Audy Zandri