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INDY allocates US$ 146 million capex for 2020

06 January 2020 08:59

JAKARTA - PT Indika Energy Tbk (INDY) has prepared a capital expenditure (capex) of US$ 146 million for 2020. This amount is smaller compared to INDY’s capex in 2019 amounting to US$ 315 million.

The decline in capital expenditure was due to lower production targets this year of 30.95 million tons. For information, last year INDY was able to produce up to 34 million tons.

"Our capital expenditure this year is US$ 146 million with a lower production target than 2019 [down about 8.97%]," said Leonardus Herwindo, Indika Energy's Head of Corporate Communication as quoted by Bisnis.

Leonardus said the majority of coal production will come from Kideco Jaya Agung with 29.65 million tons. While the rest will be produced by Multi Tambangjaya Utama with 1.3 million tons. (LM)

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