JAKARTA (Yosefardi) – PT Rukun Raharja Tbk (RAJA), one of few natural gas distribution companies in the country, allocates capital expenditure (capex) of US$40 million for 2016.
The company will focus to complete gas supply projects in Tanjung Jabung Timur (compressed natural gas), Jambi, and Banten (10 mmscfd gas distribution to Karawang industrial area).
RAJA has obtained loan facility of US$70 million from The Hong Kong and Shanghai Banking Corporation (HSBC) Limited (Jakarta branch).
RAJA had also divested 33% shares of its subsidiary, PT Triguna Internusa Pratama, to Itochu Corporation (Japan) for Rp165.1 billion.
RAJA booked net profit of US$5.48 million in the first nine months to September of 2015, declined 10%. Revenue inched up to US$147.01 million from previous US$145.54 million.