PTBA sets aside Rp 1.8 trillion for 2011 capital expenditure
Tuesday, February 1 2011 - 02:37 AM WIB
State coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has allocated Rp 1.8 trillion (1US$ = Rp 9,050) this year in capital expenditure to finance the company?s expansion plan including acquisition of several coal mines, the company?s senior executive has said.
Speaking during a hearing with the Commission VII of the House of Representatives (DPR) in Jakarta on Monday, PTBA president director Sukrisno said the company was currently conducting a due diligence on several coal mines in Kalimantan to ensure that they were economically feasible for acquisitions.
He, however, refused to unveil the names of the acquisition targets, saying that the disclosure of their names could affect the ongoing negation process.
?In the acquisition, we should become a majority shareholder with ownership of at least 51 percent,? he said, hoping that PTBA could acquire at least two coal mining companies this year to support its high production target. (giok)