Dewa plans capex at US$162.7m next year
Wednesday, November 28 2012 - 01:23 AM WIB
PT Darma Henwa (Dewa) Tbk has planned to spend US$162.7 million as capital expenditure (capex) next year.
With the capital expenditure, the company has also targeted to reach a total revenue of between US$380 and $400 million next year.
?We?re optimistic that we can realize the target. But considering the current condition of coal market, we tend to rely on the conservative target, which is US$380 million,? Dewa Director Wachyudi Anthony Martono told Petromindo.com on the sidelines of its public expose in Jakarta on Tuesday.
He added that the capital expenditure would be 70 percent loan from local bank and the other 30 percent from its internal cash.
Meanwhile, Dewa President Director Adwin Suryohadiprojo expressed his optimism that the target would be realized next year. ?We?re optimistic as we?ll approve four new contracts next year,? he added.
?Three of the four contracts are located in East Kalimantan, and the other one in Central Kalimantan. We?re now negotiating the four projects with four clients. But we could not yet identify them as we?re still in the process of negotiations,? said Adwin.
According to him, the company has targeted that its Malinau concession in East Kalimantan will produce one million tons of coal in January next year. The production capacity will be increased to two million tons of coal in 2014.
?Meanwhile for overburden removal, in 2013 we plan that Malinau will reach 7 million BCM (bank cubic meter). In 2014, we?ll increase it to 14 million tons,? said Adwin.
He also noted that the concession was still in a stage of preparations to start production.
In August 28th of 2012, Dewa has approved cooperation of mining project in Malinau concession, which is owned by Baramulti Group. The US$58 million contract will last for five years since its signing.
Editing by Benget Besalicto Tnb.