PT Aneka Tambang Tbk (ANTM) will spend the funds in capital expenditure (capex) in 2011 to U.S. $ 250 million. This is done because of the increase in projects to be undertaken.
"Until now we were actually still working out the capex related to project preparation. But it is estimated at U.S. $ 250 million," said Director of Antam, Alwin Syah Loebis on the sidelines Investor Summit 2010 at the Hotel Ritz Carlton, Pacific Place, Jakarta, Thursday, November 11, 2010.
Alwin said the project would be worked on include chemical grade alumina (CGA) Tayan, who will soon enter the construction phase. In addition, the company plans to finalize the project smelter grade alumina (SGA) and nickel ore processing project into ferronickel in Halmahera, Maluku.
All funding for capex, he explains, sought from the company's cash. However, there is a possibility of funding coming from external sources, depending on interest rates offered.
"From a financial aspect is not healthy if no debt (debt), it could be funding through bilateral or syndicated," said Finance Director Antam, Jaya Tambunan.
Until now, Antam has a cash of U.S. $ 307 million with debt position of only U.S. $ 25 million.
Finalization Tayan
Alwin said the company also will soon finalize Tayan project worth U.S. $ 450 million in mid-December 2010. "In the future can be seen scheme funding is used," he said.
For that project, Antam planned to hold 2-3 new consortium members to work on the project. Previously, Antam have formed a funding partnership with the Japan Bank for International Cooperation (JBIC).
New member consortium represents foreign companies and new names could be disclosed after the final finish. "We've tried to members of the consortium of the country, but until now no one gives a bid," he said.(*)
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