Resource Alam Sets $4 Million Capex for 2012

Resources

Friday, 02 December 2011 14:52

Written by Ferdi Hasiman

Theindonesiatoday.com - Coal producer PT Resources Alam Indonesia Tbk (KKGI) Tbk has secured capital expenditure amounted to US$4 million for 2012.

Eric Tirtana, head of investor relations of KKGI, told Kontan.co.id, online publication of Kontan business paper, that the capital expenditure will be sourced from internal generated cash. KKGI plans to use the fund the jetty and infrastructure projects.

Resource Alam plans to operate new crushing plant and jetty in East Kalimantan in the first quarter of 2012. The company also expects its 2012 output would soar to 6 million tons.

Resource Alam in its presentation material available at IDX website explained the new crushing plant at Loa Duri jetty will be completed in the first quarter of 2012 to boost crushing capacity to 10.9 million tons per annum.

The company's new jetty with stockpiling capacity of 300,000 tons, named Segara, will be operational in the first quarter of 2012 as well.

Resource Alam produced 3.2 million tons of coal in nine months of 2011, jumped 104.3% from the same period last year, while sales volume surged 112% to 3.13 million tons. About 91% of its sales directed to export market, with China absorbed 72.4% and South Korea 20.1%.

Resource Alam posted net profit of Rp345 billion in nine months of 2011, almost tripled from the corresponding period last year, while sales revenue jumped 142% to Rp1.57 trillion.

The company predicts its whole year sales volume would reach 3.5 million tons and net profit of Rp413 billion. Next year, the company targets 6 million tons of coal production, consisted of 5.37 million tons in the South Block and 630,000 tons in the North Block. (ferdi@theindonesiatoday.com)

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