Intraco Penta set to enter coal mining business

JSX-listed heavy equipment firm PT Intraco Penta Tbk plans to enter coal mining business by acquiring a number of coal mining companies in the country, Kontan reported Friday.

 

Intraco’s Deputy President Director Petrus Halim said in Jakarta Thursday that the company had identified several companies to buy. “We have studied at least 10 mining companies as our acquisition target,” he said, without providing details.

 

Meanwhile, Finance Director Fred L. Manibog said that the company was preparing the funding for the acquisition but he was reluctant to unveil the amount of the money needed for the takeover plan. (*)