Dec 13, 2010

Bukit Asam FY11 revenue up to Rp12 trio

The state-owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) expects Rp12 trillion revenue in 2011, a 46.34% increase from Rp8.2 trillion this year.
Bukit Asam CEO Sukrisno said the revenue increase will be underpinned by higher sales volume and price.
"We expect the sales volume will rise to 15 million tons in 2011 from 13.3 million tons, while average selling price is higher to US$80 per ton from US$61.5," he said.
The company is ready to spend Rp1.8 trillion capital expenditure in a bid to support the target. It manages Rp5 trillion free cash flow.
To difersify business, Bukit Asam and Germany's Lurgi AG are studying to develop coal gassification in Riau with capacity of 800,000 mmBtu. By end of this year or January 2011, the fisibility study is estimated to complete.

Disclosure: No position at the stock mentioned above.
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