PGN allocates $300m capex for Saka
Friday, May 5 2017 - 02:37 AM WIB
By Thomas Sembiring
IDX-listed gas distribution company PT PGN Tbk will allocate US$300 million of its planned $500 million capital expenditure (capex) this year for its upstream subsidiary PT Saka Energi Indonesia.
This was said by PGN Finance Director Nusantara Suyono on Thursday. ?The largest part of the capex will be allocated for Saka,? he said.
The planned 2017 capex is about the same as last year?s capex, Nusantara said.
He added that the company plans to issue bonds worth US$625 million to among others finance the capex.
Editing by Reiner Simanjuntak