PT Indika Energy (INDY), an Indonesian integrated mining company, has maintained its coal output target unchanged at 34 MnT this year, citing global uncertainty as the reason, Kontan newspaper reported on Friday quoting Azis Arman, finance director of the company.
The company produced 34.1 MnT coal output in CY18, the report said.
The company, which has yet to announce its 2018 financial results, has set aside USD 315 Million in capital spending this year, almost double than USD 162.5 Million it allocated for the previous year, the paper reported.
The bulk of expenditure will be sourced from bank loan while the remaining sum will be taken from the company’s equity, as per the report.
The company will use USD 175 Million to fund the expansion of its unit PT Petrosea, which is engaged in infrastructure, oil, gas and coal mining services.
Besides, a sum of around USD 98 million would be utilised to construct a fuel storage in Balik Papan, in East Kalimantan province.
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