Indonesian listed coal giant Bukit Asam Tbk PT (IDX: PTBA) said that investment this year is projected to reach USD 276.3 million, mostly for developmental investment. The company said in a statement issued last week that about USD 262.5 million will be allocated for development investment, and the remaining for routine investment.
The company plans coal production this year to increase by 4 percent to 30.3 million tons (MnT) compared to 29.1 MnT last year. Sales volume is targeted to increase by 8 percent to 29.9 MnT from 24.7 MnT last year. About 21.6 MnT will be allocated for domestic market, and 8.3 MnT for the export market, supported by a 2.3 MnT export of high calorific value coal.
Bukit Asam also said that it will reduce the production volume of high calorific value coal this year to 2.3 million from 3.5 MnT in 2019. Bukit Asam exports high calorific value coal to premium markets such as Taiwan, Japan and the Philippines. Bukit Asam said that coal transport via railway this year is expected to increase to 27.5 MnT from 24.2 MnT.
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