JAKARTA. PT Pratama Widya Tbk. (PTPW), a construction company, has prepared a capital expenditure (CapEx) budget of Rp 40 billion this year to purchase heavy equipment.
Director of Pratama Widya, Winatama Kurniawan, said the CapEx budget came from the proceeds of the initial public offering (IPO).
"This year's capital expenditure budget is around Rp 40 billion, the majority of it is for heavy equipment," he said in Jakarta on Friday (7/2). As a construction company, heavy equipment is one of the assets that will support the company's business.
Pratama Widya has just released its shares to the public, and obtain Rp.114.16 billion. At least 47.15% of the proceeds from the IPO will be used to purchase new equipment, 27.66% for renovation and construction of operational offices. The rest will be used for purchasing offices and land in Batam, extending debt to related parties, and working capital.
President Director of Pratama Widya, Andreas W. Kurniawan said that his party would continue to target infrastructure projects, such as flyovers, bridges, dams and docks. (AM/AR)