PGN allocates $500m capex for this year
Thursday, January 26 2017 - 02:10 AM WIB
Petromindo|Lucky
IDX-listed gas distribution company PT PGN Tbk plans to allocate US$500 million for capital expenditure (capex) this year, about the same as last year?s, Bisnis Indonesia reported on Thursday.
The paper quoted PGN Finance Director Nusantara Suryono as saying that the planned capex will be among others allocated for its upstream oil and gas subsidiary PT Saka Energi Indonesia, and for the development its downstream business.
He said that the capex will be entirely financed by internal funds. (*)