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State-owned coal miner PT Bukit Asam (PTBA) plans to allocate Rp 6.5 trillion (US$455 million) in capital expenditure (capex) next year, mostly for the expansion of its businesses, PTBA president director Arviyan Arifin said in Jakarta on Thursday.
State-owned coal miner PT Bukit Asam plans to boost the annual capacity of its coal freight distribution to 65 million tons by 2023, from a capacity of only 10.23 million tons as of June, said a company executive recently.
State-owned coal mining company PT Bukit Asam booked a 142 percent annual increase in net profit to Rp 1.72 trillion (US$129 million) in the first half of this year, following a hike in output and a drop in the stripping ratio.
State-owned coal miner Bukit Asam plans to allocate US$500 million in capital expenditure and issue global bonds worth up to $2.5 billion in 2017 following its plan to develop power plants with a total capacity of 5,000 megawatts (MW) in the near future.
