Elnusa allocates Rp 500b for capex
Saturday, February 20 2016 - 04:10 AM WIB
IDX-listed oil and gas services company PT Elnusa Tbk has allocated Rp 500 billion for capital expenditure (capex) this year, about the same as last year?s.
Elnusa Corporate Secretary Fajriyah M. Usman said on Friday that the 2016 capex will primarily be used to finance equipment maintenance at its oil and gas drilling services business unit.
He added that the remainder will be used for the seismic business unit and fabrication.
Fajriyah said that about 70 percent of the planned capex will be financed via bank loans, and 30 percent equity.
In the fabrication business segment, the company will push its subsidiary PT Elnusa Fabrikasi Konstruksi to manufacture oil and gas equipment to support the group?s oil and gas services business, thus creating synergy among subsidiaries to help gain efficiency, Fajriyah explained. She added that the equipment could one day be sold both at home or overseas markets.
Editing by Reiner Simanjuntak