Medco Mining allocates $1 million capex this year

By Cepi Setiadi

PT Medco Energi Mining Indonesia (MEMI), a subsidiary of IDX-listed energy company PT Medco Energi Internasional Tbk, is allocating US$1 million for capital expenditure (capex) this year.

F. Hary Kristiono, Corporate Strategic and Commercial Vice President at PT Medco Mining Internasional (MMI) to Petromindo.com on Wednesday that the capital expenditure is allocated for maintaining existing infrastructure facilities at its coal mining site in Nunukan, North Sumatra.

"The capital expenditure will be allocated for renewing and maintaining several assets at the mine site such as crusher, etc," he said. Meanwhile for maintaining of heavy equipment according to Hary, it is included in operational expenditure.

Editing by Reiner Simanjuntak