VIVAnews - PT Indo Tambangraya Megah Tbk. (ITMG) allocates a US$126 million capital expenditure (capex) in 2009.
The capital expenditure will be used in Bontang port expansion finishing of US$41 million, Indominco east block development of US$15 million, Barito concession of US$7 million, and Bontang power plant of US$6 million.
The rest of US$57 million is directed to other developments, such as TD Mayang fleet expansion and Indominco underground.
"The capital expenditure will be taken from the company's budget," said the managing director of Indo Tambangraya Megah Somyot Ruchirawat in a press conference at Dharmawangsa Hotel in Jakarta, April 17.
Ruchirawat added that his company has not yet established a bank loan related to the capital expenditure necessity.
He hoped that the Bontang development in the 2B phase, i.e. barge loader system, will be completed in June 2009. Meanwhile, the 2C phase, i.e. barge unloader system is planned to finish in November 2009.
The Barito concession is projected to start the production in the fourth semester in 2010. Other than that, the captive coal fire power plant is planned to be accomplished in mid 2009.
Barito mine can multiply the production capacity up to four million tons per year for the next 3-4 years.
Ruchirawat explained that the company's production in 2009 derives from several mines, i.e. 13 million tons from Indominco, 2.5 million tons from Jorong, and 5 million tons from Truba. The east block will contribute 1.2 million tons into Indominco's production, and the rest comes from the west block.
Indo Tambangraya management is optimistic that the company can reach the production and coal sale target in 2009. Nevertheless, the company expects a low pollution and rainfall so it will not affect the mine production capability.
In 2009, the company is going to try to multiply the domestic coal supply based on the government's policy. The company's local sale reached only eight percent in 2008 because of the high calorie in the coal.
"The high calorie fits international users. Indonesian [users] still take the low calorie," he said.
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Translated by: Ariyantri E. Tarman
