10 January 2014

Toba Bara Capex Could Reach US$15,5 million in 2014

IQPlus, (18/12) - PT Toba Bara Sejahtera Tbk (TOBA) is planning a capital expenditure of US$8 million in 2014 which could be increased up to US$15.5 million on acceleration over land acquisition.

According to the company statement on Wednesday, the company's investment will be prioritized in the development of one of the company's three subsidiaries in coal mining PT Trisensa Primary Minerals (TMU) with the allocation of exploration and land acquisition of 55 percent of total capital expenditure in 2014 .

As of on September 2013, the company has issued a capital expenditure of US$ 15.7 million from this year's budget is US$ 27.1 million of capital expenditures which were used for land acquisition, construction of coal processing plant (CPP), the completion of coal hauling road from TMU and development The second underpass in Adimitra Baratama Nusantara (ABN) .

As up to September 2013, the company has sold its coal to some of the leading countries in Asia, including China, Taiwan, India and Vietnam. (end/vd)