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Article: India : PT ITM to invest USD 200 million in 2009.

Article from:
TendersInfo
Article date:
December 4, 2008
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Byline: pinto03

PT Indo Tambangraya Megah, the Indonesian subsidiary of Thailand's Banpu Pcl, plans to raise its capital expenditure in Indonesia by more than double in 2009 compared to 2008 to increase its production capacity.

Mr Somyot Ruchirawat president director of PT ITM said that it would spend USD 200 million in 2009 up from USD 71.5 million forecast for 2008. He said that the funding is from its internal budget and it would not use any loans. The budget will mainly be used to expand its mining capacity in Tandung Mayang, Kutai Kartanegara Regency in East Kalimantan, which is operated by PT Kitadin, one of ITM's subsidiaries.

Mr ...

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