Hexindo secures new orders worth $130 million

IDX-listed heavy equipment distributor firm PT Hexindo Adiperkasa has secured new orders worth about US$130 million from PT Kaltim Prima Coal (KPC), one of the country?s largest coal producers.

?We just received purchase orders for 31 giant dump trucks and 6 giant excavators worth $110 million and $20 million, respectively,? the company?s corporate secretary Hery Akhyar said.

Hery said that the orders were made following a series of negotiations which had begun since early last year. In the initial talks, the orders being negotiated were worth up to $520 million and based on a long-term contract, he said.

?But due to the global financial crisis, the orders were cut down to $130 million and based only on a long-term contract.? he said.

KPC is a unit of IDX-listed coal mining giant Bumi Resources. KPC targeted 70 metric tons of coal in 2012. (*)