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United Tractors Plans to Buy Additional Coal Mines

Dec. 2 (Bloomberg) -- 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.

To contact the reporter on this story: Widya Utami in Jakarta at wutami@bloomberg.net

To contact the editor responsible for this story: Greg Ahlstrand at gahlstrand@bloomberg.net

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