Sep 22, 2011

UNTR scouts 7 mio tons coal output

PT United Tractors Tbk (UNTR) is scouting a 7 million tons of coal production volume next year, a 55.55% increase from 4.5 millions targeted this year.
President Director Djoko Pranoto said coal mining companies that have been taken over this year will start producing a maximum output next year. 
"We expect a 7 million tons of coal production with additional contribution from just acquired mining," he said as quoted by Bisnis Indonesia today.
United Tractors, subsidiary of PT Astra International Tbk (ASII), spent US$121 million to acquire PT Asmin Bara Bronang, PT Duta Sejahtera, and PT Bukit Enim Energy.
United Tractors, through its subsidiary PT Pamapersada Nusantara, controls 60% sake in Asmin Bara Bronang.

Disclosure: No position at the stock mentioned above.

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