Indo Tambang's Capex double to USD 88 million
Wed 06 Dec 2023, 12:00 PM
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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
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