United Tractors Plans to Buy Additional Coal Mines
PT United Tractors, Indonesia’s biggest seller of construction equipment and which also produces coal, plans to spend $450 million in capital expenditure next year, mostly to buy more mines, director Gideon Hasan said.
PT Pama Persada, United Tractors’ mining contracting unit, will spend about $400 million, half of which will come from external loans, Hasan said at a press briefing today in Jakarta.
United Tractors expects coal production and sales to reach 4.5 million tons in 2011, Hasan said. The average domestic price of coal will probably reach $90 per ton next year, he said.
Sales of heavy equipment will probably rise to 6,000 units in 2011 from an estimated 5,400 units this year, Hasan said.
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