Coal miner PT Adaro Energy Tbk (ADRO) delays development of overland conveyor belt worth US$260 million due to prioritize another project of 5 km long out pit and crushing conveyor (OPCC).
Devindra Ratzarwin, Adaro Corporate Secretary, said the company estimated to start developing the OPCC project next year and expected to be operated in 2012 or 2013.
"We don't have any constraint to build overland conveyor belt. But, we see that the OPCC project could benefit us," he said as reported by Bisnis Indonesia today. Adaro has mandated PT Tripatra Engineers & Constructors to build overland conveyor belt.
Adaro is planning to spend US$200 million capital expenditure in 2011. It also plans to spend US$140 million to set power plant and US$260 million for conveyor system.
Disclosure: No position at the stock mentioned above.
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