JAKARTA: The state coal producer PT Perusahaan Tambang Batu Bara Bukit Asam Tbk is targeting this year revenue to be IDR10 trillion and IDR3 trillion net income.Bukit Asam President Director Sukrisno said the figure is achievable due to the advancing coal price; driven by a bigger demand for the commodity from various countries.The recently established power plants in China and India have started their operation so coal demand is increasing whilst supply from Australia is problematic, he said in Jakarta, yesterday.Company's performance through 2010, he added, is estimated to decrease if compared to 2009. This condition is due to cheaper coal price than the year before.As for production, the company is targeting 17.6 million tons this year. The figure is bigger than 10.8 million tons last year.To meet the target, they will upgrade their coal transportation facility. For 2011, railway transportation is targeted to transport 13.1 million tons, up from 10.8 million tons last year.The improvement on transportation facility is to add 6 locomotives and 240 carriages from PT Kereta Api. This will increase coal transportation facility.Bukit Asam is allocating IDR1.8 trillion for this year's capital expenditure (capex). The number will increase if mining acquisition needs bigger cash.At the moment, the state coal producer will depend on internal cash to finance 2011 capex. Cash flow is recorded at IDR5 trillion. We are able to fund our own expansion as we have quite big cash.Bukit Asam is targeting 50 million ton production in 2015 if the railway network is completed entirely.4 steam plants acquisitionOn the other side, Sukrisno explained that the company is seeking a US$3.5 million investment for investing in 4 steam plants (PLTU). We will enter as a shareholder. By managing their shares, their coal demand will be supplied by us.The four PLTUs are PLTU South Sumatera 8 with 2x600 Mega Watt (MW) capacity, PLTU South Sumatera 6 with 2x300 MW, PLTU Prana Riau with 2x300 MW and PLTU Madura with 2x200 MW.PLTU South Sumatera 8 requires US$1.4 billion investment and the company will manage 45% share at the plant. PLTU South Sumatera 6 requires US$800 million, and Bukit Asam will own 41% shares.PLTU Pranap Riau needs US$800 million and PTBA is eyeing 55% shares. PLTU Madura needs US$500 million and eyes 10% ownership.By managing their shares, he continued, the company has a captive market for the coal output.To meet capital requirement, 70% will come from external and 30% from internal. We have submitted our proposal to be their shareholder.For PLTU South Sumatera 8 and 6, PTBA will work together with a Chinese consortium. At PLTU Pranap Riau, the SOE will work with PT United Tractors Tbk subsidiary, PT Pamapersada Nusantara and Indian-based Lanko. (T05/NOM)
Cek Berita dan Artikel yang lain di Google News dan WA Channel
