PTBA to spend Rp 1.6 trillion on new acquisitions
Thursday, May 31 2007 - 01:43 AM WIB
State coal mining firm PT Tambang Batubara Bukit Asam Tbk (PTBA) has prepared Rp 1.6 trillion to finance its acquisition of several mining companies in Kalimantan.
The feasibility study will be done this year for all these acquisitions, PTBA’s president director Sukrisno said on Wednesday.
The new acquisitions are part of PTBA’s strategy to maintain its income in the long-term in the midst of an increasing demand for coal on the international market and the acquisitions will be made through his company’s subsidiary PT Bukit Asam Prima, which is at present involved in coal trading, he said.
According to Sukrisno, the acqusition funds will be sourced from the company's internal resources.
PTBA is hoping that its coal sale volume in 2007 will reach 11 million tons, an increase of 10 percent over last year’s 9.9 million tons of coal, he added. (godang)