Pamapersada estimates to earn $90 million from Kideco?s projects
Thursday, January 30 2003 - 02:07 AM WIB
Mining contractor PT Pamapersada Nusantara, which is wholly owned by publicly listed heavy equipment maker PT United Tractors Tbk, will earn an estimated US$90 million from 2003 to 2005 from overburden projects at Kideco Jaya Agung?s coal mines in East Kalimantan, Bisnis Indonesia daily reported Thursday.
?We estimate that Pama?s annual revenue will reach $30 million, from 2003 to 2005,? the company?s investor relations manager, Thomas H. Aslim, said Wednesday.
In 2002, the company contributed an estimated $5 million in dividend to United Tractors, compared with $10.7 million in the previous year, Thomas said. UT used the funds to pay its debts.
Bisnis Indonesia said Pamapersada?s debts totaled Rp202.53 billion (US$=Rp8,860) by December 2001.
Aside from Kideco, Parma?s major clients include PT Adaro Indonesia, Indomuro Kencana and Indominco. (*)