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Astrindo Nusantara to focus on coal infrastructure this year

12 April 2019 07:16

JAKARTA - PT Astrindo Nusantara Infrastruktur Tbk (BIPI) will focus on working on the coal infrastructure business this year.

PT Astrindo Nusantara Infrastructure Managing Director Ray Anthony explained that the company is no longer focusing on oil. Fluctuations in commodity prices for crude oil made this company leave oil mining. "As of today (11/4) we have released our oil-based business unit," Ray said as quoted from Kontan.

The plan, Astrindo Nusantara will focus more on providing coal mining infrastructure such as ports, coal crushing, coal preparation plants to overland conveyors.

Ray said that the potential for mining infrastructure development was still very large. He gave the example of the Musi River which has a capacity of 100 million tons of coal distribution, while at present the usage only reaches two million tons.

For this expansion, one of the strategies implemented by the company formerly called Benakat Integra was to pay off the company's debt. At the end of 2018, BIPI debt was recorded at around US$ 500 million or down compared to the previous period with debt reaching US$ 1 billion. (LM)

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