JAKARTA (Yosefardi) – State coal producer Bukit Asam (PTBA) plans to boost its capital expenditure (capex) to Rp4 trillion for 2014, compared to Rp2.2 trillion for 2013, to cover cost for expansion to Myanmar and Vietnam.
Milawarman, PTBA’s president director, said the company will set up joint venture (JV) in Myanmar and Vietnam with majority ownership on the JV. PTBA plans to, in first phase, develop steam power plant (PLTU) in Myanmar with capacity of 200 megawatts.
In the country, PTBA has no mining exploration program for next six months, until March 2014. It will not seek new resources outside on area the company has secured licenses for exploitation.
PTBA uses this capex of Rp2.2 trillion to fund the development of Patuha power plant, capacity expansion, and Tarahan port in Lampung and Kertapati (Palembang) for transporting coal.
PTBA gained 3% to Rp13,200 per share this morning trade.