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Jakarta Post

PKT to spend US$140 million on capital expenditure in 2010

  • Nani Afrida

    The Jakarta Post

Jakarta   /   Thu, December 24 2009   /  10:02 am

State fertilizer producer PT Pupuk Kalimantan Timur (PKT) plans to spend US$140 million in capital expenditure next year, mostly on building a new coal-fired power plant.“We will spend $120 million of capex on constructing the plant” PKT President Director Hidayat Nyakman told journalists on the sidelines of new factory ceremony in West Java on Wednesday.PKT also plans to spend $15 million on new factories and about Rp 400 billion on its cooperation with several plantation companies.Hidayat said that the company will mobilize the capex from internal cash flow and loans from banks, including state bank PT Bank Rakyat Indonesia (BRI), which has committed $100 million for PKT.“We will receive gas supply in the beginning of next year, so that it will be easy for us to get some loans from banks,” Hidayat said.By the end of this year, about 208,000 tons fertilizer from PKT will be expo...