Timah to spend $100m for 2 dredgers
Monday, January 16 2012 - 03:22 AM WIB
The company expects to operate the two vessels in early 2014.
President Director Wachid Usman said that the company would use a combination of loans and internal cash for the planned purchase, but he refused to elaborate further. ?We are still monitoring the global condition,? he said last week as reported by Investor Daily.
Last year, Timah bought a similar vessel. ?The construction should be completed by the end of 2013,? Wachid said.
In addition to the two dredgers, Timah is also seeking to purchase other kind, and smaller, ships this year. Wachid said the purchase of all these vessels have been incorporated into the company?s capital expenditures. The firm sets aside Rp 2 trillion for buying vessels this year. (*)