Coal miner PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki, plans to ramp up both production and sales volume to 10.5 million tons this year from 7.4 million tons last year.
"Harum also expects a higher average selling price this year," said Alexandra Mira, Harum Energy's Corporate Secretary, said as quoted by Kontan daily today.
The company intends to spend US$30 million of capital expenditure in 2011, which will be allocated to improve quality of coal transportation road and complete infrastructures. "Capex requirement will be fulfilled by internally generated cash flow and IPO proceed," she said.
Disclosure: No position at the stock mentioned above.
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