Mar 7, 2011

Indo Tambang sets US$2.25 bio revenue

Indonesia coal producer, PT Indo Tambangraya Megah Tbk (ITMG) expects 2011's revenue up to US$2.25 billion  a 40.62% increase from previous year of US$1.6 billion.
The sales volumn is estimated to increase from 22 millions tons of coal to 25 million tons. "We predict our 2011's average selling prices arround US$85-90 per metric tons than last year US$75 per metric tons," Edward Manurung, Indotambang's Finance Director told Insider Stories.
He said, to reach that target, Indotambang plans to spend US$300 million of capital expenditure.
Indotambang also seek new coal mining in Indonesia to boost the capacity production.  "We are looking severals coal mining. We expect will realize soon. If we do that we will seek bank loans or another finance instrument," Manurung said.

Disclosure: No position at the stock mentioned above.

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