Feb 23, 2011

UNTR sets US$400 mio capex

Komatsu distributor PT United Tractors Tbk (UNTR), parent of Indonesia's largest coal mining contractor PT Pamapersada Nusantara, intends to set US$400 million of capital expenditure (capex) this year. The financing is coming from internally generated cash flow and loan.
United Tractors President Director Joko Pranoto said the company is eyeing a 10% higher in heavy equipment sales volume this year than 5,000 units last year. In addition, revenue is estimated to rise approximately of 10% this year from last year's figure.
Coal production is set to increase 10% from 75 million tons last year, while Pamapersada, with its own coal mining company, expects to produce 3.5 million tons of coal this year from 2.5 million tons last year.
For mining contracting, Joko explained the company aims to expand to non-coal business such as nickel. "We can acquire other company as well this year."
He also admitted that UNTR is involving several tenders of mouth mine power plant projects in Sumatra with 2x300 MW capacity worth US$720 million-US$780 million of investment as well as 2x150 MW with US$360 million-US$390 million of investment.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: