PT United Tractors, a unit of diversified Astra International, targets its coal production to hit between 125 MnT to 127 MnT this year amidst slowing prices, Kontan newspaper reported quoting Sara K Loebis, corporate secretary of the company as saying.
Such coal target output would equal to 1.6% increase from last year’s actual coal output, the report said without giving actual details of coal output for 2018.
The company’s coal output was 113.9 MnT in the first eleven months of 2018, according to a statement on the website. The company did not provide its full-year coal output.
The company had produced 112.6 MnT of coal in 2017, and 109.2 MnT of coal in 2016.
United Tractors has set aside USD 700-800 Million as capital expenditure this year, with the bulk of it to be used in funding the company’s various mining contractor business, the report said.
United Tractor has several coal mining units with PT Pama Persada being the biggest coal project. The company is also engaged in the heavy equipment business with big brand like Komatsu.
United Tractor is yet to announce its 2018 full-year financial results which would be out in the coming weeks. The company had reported a 32% increase in revenue to 61.1 Trillion Indonesian Rupiah in the first nine months of 2018 from 46.3 Trillion Indonesian Rupiah in the same period a year earlier.
Net profit rose 63% to 9.1 Trillion Indonesian Rupiah during Jan- Sep’18 period from 5.6 Trillion Indonesian Rupiah in the corresponding period a year earlier, according to the company’s statement.
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