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Atlas Resources to allocate IDR 100 billion for capital expenditures

www.idnfinancials.com

Fri 22 Jul 2022, 14:34 PM

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PT Atlas Resources Tbk (ARII), a coal mining company, sets the capital expenditure (capex) budget of IDR 100 billion this year. Andre Abdi, President Director of Atlas Resources, specified that approximately IDR 66.6 billion or 2/3 of the capex budget will be spent on fixing infrastructures in the coal transportation ports. “There will be an upgrade of infrastructure, including the hauling road and ports, that will last until Q3 2022,” he mentioned in the public expose treatise quoted Friday (22/7).

 The upgrade of hauling road aims to increase the capacity of transporting coals from the mining area to the port. Furthermore, there are also a talk about expanding the port itself by installing more barge loading conveyors with a capacity of 4 million tons per year, bringing the total capacity to 10 million tons per year.ARII is known to manage the concession mining area of 61,010 hectares in Sumatra, Sulawesi, and Kalimantan. In 2021, the market capitalisation of ARII in the export segment reached 52%, while scoring 48% in the domestic area.

Andre Abdi, President Director of Atlas Resources, specified that approximately IDR 66.6 billion or 2/3 of the capex budget will be spent on fixing infrastructures in the coal transportation ports. “There will be an upgrade of infrastructure, including the hauling road and ports, that will last until Q3 2022,” he mentioned in the public expose treatise quoted Friday (22/7).

The upgrade of hauling road aims to increase the capacity of transporting coals from the mining area to the port. Furthermore, there are also a talk about expanding the port itself by installing more barge loading conveyors with a capacity of 4 million tons per year, bringing the total capacity to 10 million tons per year. 
ARII is known to manage the concession mining area of 61,010 hectares in Sumatra, Sulawesi, and Kalimantan. In 2021, the market capitalisation of ARII in the export segment reached 52%, while scoring 48% in the domestic area.

Source: 
https://www.idnfinancials.com/news/43766/atlas-resources-allocate-idr-capital-expenditures


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