Energy company PT Exploitasi Energi Indonesia Tbk (CNKO) is eyeing Rp103.5 billion net income in 2011, a 107% jump from Rp50 billion at end of this year.
Exploitasi Energi President Director Erry Indriyana said the net income rise will be underpinned by the operational of steam-fired power plant with 2x7 MW capacity in Pangkalan Bun, Central Kalimantan. The power plant is estimated to generate Rp44 billion revenue per annum. "We estimate to obtain Rp16 billion net income annually," said Erry as reported by a local media.,
The company also expects coal sales to four power plants owned by PT Perusahaan Listrik Negara with capacity of 1.5 million metric tons annually. The power plants are Labuan Angin, Suralaya, Rembang, and Indramayu.
Disclosure: No position at the stock mentioned above.
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