Release: Indo Tambangraya Megah?s coal sales inline with the company?s target
Thursday, August 5 2010 - 12:39 AM WIB
?From our total coal sales target of 23 million tons set for this year, we have secured 94% sales contract with 80 % priced, 14% sold based on coal index prices, and the remaining 6% are without price yet,? said Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah Tbk. at the press conference conducted during the Investor Day event at the Indonesian Stock Exchange (IDX) today.
For the fiscal year of 2010, PT Indo Tambangraya Megah Tbk. has allocated its major capital expenditure of US$101 million to expand its organic assets such as the development of infrastructure at lndominco?s East Block, the feasibility study for underground mining at Indominco and Trubaindo Mine, the adding of heavy equipment for Kitadin Tandung Mayang Mine, and the infrastructure development of Kitadin Embalut Mine and Bhannto Mine.
With the completion of Bontang Coal Terminal Expansion project in PT Indominco Mandiri, one of the Company?s subsidiaries, PT Indo Tambangraya Megah Tbk. is now enjoying an upgrade of its loading capacity from 11.0 million tons to 18.5 million tons per annum, truck in-loading capacity from 1,500 tons to 2,000 tons per hour, barge unloading from 2 million tons to 12 million tons per annum, port stockyard capacity from 0.35 million tons to 0.65 million tons and barge loading from 0 million ton to 2 million ton per annum.
Furthermore, the Bontang Power Plant is now operating and has successfully performed reliability test in July 2010. With the capacity of 14 Megawatt, the Bontang Coal-Fired Power Plant is intended to electrify Bontang Coal Terminal and Indominco Mine.
PT Indo Tambangraya Megah Tbk. growth strategy in the next five years is to optimize the existing assets as well as acquire other mines to increase the coal reserves. Other strategies are to be more cost effective and cost competitive by reducing various cost elements of operations. (end of release)