JAKARTA (Yosefardi) – PT Rukun Raharja Tbk (RAJA) allocates US$160 million for investment in 2013 and 2014, to fund capital expenditure (capex) and business expansion.
The company plans to acquire a company, owner of gas block concession, in East Java, which costs US$100 million. The rest US$60 million is for capex.
The company will build gas network infrastructure, to support its upstream gas mining. It targets to book revenue of US$222.72 million in 2014, a 61.46% rise compared to US$137.94 million estimated for this year. While net profit is projected for US$7.42 million, compared to US$5.54 million targeted for this year.