PT Inco shareholders approve plan for stock split
Monday, December 17 2007 - 04:08 AM WIB
Indonesian stock exchange-listed nickel miner PT International Nickel Indonesia (Inco) won its shareholders' approval to split its stock.
Shareholder approved stock split of 1 to 10 to change the nominal value from Rp.250 per share to Rp.25, President Director Arif Siregar said in Jakarta on Monday.
He said that this year's production remained on track despite a strike at the company's mine in South Sulawesi. The company targeted production of 165 million pounds of nickel in matte this year.
The construction at the hydroelectric Karebbe project is also on schedule, he added.
The Karebbe dam and hydroelectric generating facility are expected to raise PT Inco?s generating capacity to support annual production of 200 million pounds of nickel in matte and are expected to provide another 90 megawatts per year of hydropower. (godang)