Aug 4, 2010

Saptaindra sets 45m tons coal output

Coal mining contractor PT Saptaindra Sejati (SIS), wholly onwed subsidiary of coal mining company PT Adaro Energy Tbk (ADRO), sets a coal production target of 45 million tons of up to 2014.
The target is more than half of ADRO's long term production target of 80 million tons.
In line with the production target, Adaro Energy also plans to provide US$430 million of capital expenditure.
"About US$430 million of capex is allocated through SIS," Adaro's Director and Corporate Secretary Andre J. Mamuaya as reported by Detik.com today.
Adaro Energy will spend US$200 million for routine financing and maintenance cost, while US$400 million is used for overland conveyor belt. "SIS's production is about 30% of consolidated output," he said.  

Disclosure: No position at the stock mentioned above.  

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