Heavy equipment distributor and mining contractor, PT United Tractors Tbk, in talks with several banks to obtain US$200 million loans particularly to finance the capital spending of its subsidiary, PT Pamapersada Nusantara.
That funds cover 50% of Pamapersada’s total capital spending. United Tractors expects the fresh fund to be generated from external source. The total of capital spending company to reach US$400 million by 2011. The fresh funds will then be utilized to purchase spare parts and units.
The company shall negotiate with 20 banks that once provided credit to Unite Tractors, such as Sumitomo, Marubeni, and Komatsu Astra Finance.
Pamapersada may produce 77 million ton of coal from the coal mining contract. One of the clients of Pamapersada is PT Adaro Energy Tbk. As a matter of fact, Pama seeks to produce 17 million ton coal.
Pamapersada produced 64 million ton coal as per October while its overburden removal totaled 541 million bank cubic meter. Pamapersada contributed IDR12.51 trillion revenue to United Tractors or nearly 44.9% of United Tractor’s total revenue in September that reached IDR27.81 trillion
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