JAKARTA - PT Timah Tbk (TINS) has prepared capital expenditure or capex of Rp 2.3 trillion for next year. This figure is 15% higher compared to this year's capex.
"The capex will be used for capacity enlargement and investment development such as production equipment, maintenance," said Amin Haris, Corporate Secretary of PT Timah quoted from Kontan.
For information, PT Timah has allocated capital expenditure of Rp 2 trillion for 2018 and currently, only Rp 700 billion has been absorbed. The capex is used for machinery and production installations, exploration equipment, mining and for other fixed assets such as land and buildings.
Amin also revealed that PT Timah will expand with a number of strategic partners from abroad at the end of this year until 2019. The company is currently conducting an assessment of cooperation with Myanmar and continuing the progress of expansion in Nigeria. In addition, the company will also work on a number of strategic projects in Bangka Belitung and Riau Islands. (LM)