JAKARTA - PT SMR Utama Tbk (SMRU) has prepared a capital expenditure of US$ 21 million for 2019. The funds will be used to achieve overburden removal of 38 million bank cubic meters (BCM) and 3.5 million tons of coal.
"This target comes from existing contracts. The company-owned contracts as of October 2018 was amounted to 113.5 million BCM," said Ricky Kosasi, Finance Director at SMR Utama to Kontan.co.id.
To achieve this target, SMR Utama has prepared capital expenditures originating from the company's internal funds and financing of financial institutions.
For information, in 2018, the company has allocated a capex of Rp 300 billion. As of October, as much as Rp 202 billion has been absorbed for the addition of heavy equipment. (LM)