Mitrabara injects Rp 89.5 billion to subsidiary
Saturday, August 30 2014 - 05:30 AM WIB
By Romel S. Gurky
IDX-listed coal mining company PT Mitrabara Adiperdana Tbk announced Friday it has injected Rp 89.5 billion worth of capital into its subsidiary PT Baradinamika Mudasukses.
Mitrabara said in a filing with the Indonesia Stock Exchange that the funds would be used to help finance the expansion of Baradinamika?s coal port facility.
It added that the funds for the capital injection come from the proceeds of the company?s recent initial public offering.
The company has said that it plans to double the capacity of its port facility in Malinau, North Kalimantan, to 5 million tons per year.
Editing by Reiner Simanjuntak