JAKARTA. PT Alfa Energy Tbk (FIRE) has prepared a capital expenditure budget of US$ 2 million to support its business in 2020.
Aris Munandar, Director of FIRE, said that the source of CapEx budget was the company's internal cash. The company does not yet have a plan to raise funds from other sources.
The budget will be used to purchase heavy equipment and prepare coal production in Blok N in Kutai Kartanegara, Samarinda.
In addition, FIRE also plans to look at business potential in the new and renewable energy (EBT) sector. However, the EBT business plan is still in its initial stages and has not been included in the budget for 2020. (KR/AR)