JAKARTA: A state-controlled gas distribution company, PT Perusahaan Gas Negara Tbk, plans to spend US$200 million to expand its business, Kontan reported, citing Finance Director Riza Pahlevi.The capital expenditure would be funded from its internal cash. The company targets to construct liquefied natural gas terminals in Jakarta Bay, Jakarta and Belawan, North Sumatra.Perusahaan Gas Negara currently is finishing the acquisition of a gas block. As earlier reported, the company lifted its acquisition budget to US$350 million from US$250 million. The increased budget following the price of the targeted block was higher than estimated. The acquisition budget will be funded by internal cash.Perusahaan Gas Negara also hand dividend in the amount of IDR3.49 trillion or IDR144.24 per share, following interim dividend last year amounting to IDR247.24 billion or IDR10.2 per share.The company currently distributes 800 million standard cubic feet per day (mmscfd) gas. The company is seeking to increase the volume to 1,200 mmscfd gas this year. (NOM)
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