PT Inco to spend $125m this year
Wednesday, March 30 2005 - 08:19 AM WIB
Southeast Sulawesi-based nickel miner PT International Nickel Indonesia plans to spend about US$125 million in capital expenditures this year, with $50 million of that going towards building a dam, a company official said.
PT Inco president Bing Tobing said Wednesday that the company planned to build the dam at a total cost of $250 million in a bid to boost electricity capacity for its smelting plants. This dam is scheduled to be completed in 2009.
?We are still studying all the financing options for it,? Bing told reporters.
Inco booked a net profit of $265.1 million in 2004 compared to $104.2 million in the year before. (godang)