JAKARTA. PT United Tractors Tbk (UNTR) will focus on product diversification to balance its portfolio.
According to United Tractors Investor Relations Ari Setiyawan, the company will continue diversifying its products to balance its portfolio between thermal or low-calorie coal business and non-thermal coal business.
To achieve its goal, the company is studying the possibility of adding mining areas for other mineral commodities such as coking coal, gold, and nickel. "Nothing is in our pipeline in the near future, but we are still studying any possibility," said Mr Setiyawan as quoted by Bisnis Indonesia, Thursday (6/2).
This year the company has budgeted US$450 million in capital expenditure (capex), lower than last year's capex of US$650 million.
Around US$250 million-300 million of the capex will be used by the company's subsidiary PT Pamapersada Nusantara to purchase new heavy equipment, while US$100 million will be used for the Martabe gold mine. (AM/MS)