PCN allocates US$5 million for capex this year

By Cepi Setiadi

Petromindo|Lucky

Coal mining company PT Prolindo Cipta Nusantara (PCN), a subsidiary of Lestari Citra Persada (LCP), has allocated around US$5 million for capital expenditure (capex) this year.

Henry Soetio, LCP President Director told Petromindo.com recently that the capex will be allocated for maintaining heavy equipment at mine site.

"This year we are only budgeting US$5 million worth of capex for maintaining heavy equipment and increasing jetty performance, as renewal of the heavy equipment such as dump trucks have been done in the previous year," he said, adding that for the sister company of PCN, PT Astri Mining Resources has no allocated funds for capital expenditure. "For Astri Mining this year is zero capex," he said. This year, LCP is targeting around 4 million tons of coal output from PCN and 2 million tons from Astri Mining.

Editing by Reiner Simanjuntak