PT Indo Tambangraya Megah Tbk (ITMG), a coal mining issuer, is finalizing capital expenditure (capex) in 2024. The value could be twice as high as in 2023, around USD 44 million. 

"(Capex) is mainly related to plans to develop several of our new mines, for example PT Graha Panca Karsa (a coal company) which has entered the preparation stage to start commercial operations," said Finance Director of PT Indo Tambangraya Megah Tbk (ITMG) Junius Darmawan in " Pubex Live 2023”, Thursday (30/11/2023).

Apart from that, capex expenditure will be used for infrastructure needs, including port construction, haul roads and crushing plan facilities. Infrastructure will be focused on the PT Trubaindo Coal Mining and PT Bharinto Ekatama business entities in the Melak area, West Kutai Regency, East Kalimantan in order to increase production capacity.

"We will increase production capacity next year so we need to develop related capacity, especially at the jetty port ," said Junius.

The company also uses capital expenditure for the construction of solar panels related to the company's transition plan in the field of new renewable energy (EBT). "Subsidiaries, namely PT Cahaya Power Indonesia and PT Suryanesia, have received several contracts for the construction of solar rooftops," he said

Image source: Beritasatu.com

Source: www.beritasatu.com/2024, Capex Indo Tambang Bisa Naik Dua Kali Lipat Tembus US$ 88 Juta