PT Bumi Resources Tbk, Indonesia largest coal exporter, maintains its worst scenario schedule to pay down $600 million of its $1.9 billion debt to China Investment Corp. in the fourth quarter of this year.
The second tranche of another $600 million will be paid in the fourth quarter of 2012 and the rest in the fourth quarter of 2013.
Bumi's first half net profit was $278.6 million, compared with a restated $271 million in the same period a year earlier. Bumi had said last year its first half 2010 net profit was $134.6 million.
Bumi, which the politically connected Bakrie family and Nathaniel Rothschild control via London-listed Bumi Plc , plans to repay the first $600 million tranche of a $1.9 billion loan to the China Investment Corporation (CIC) in October.
Bumi has increased its forecast for 2011 average coal prices to $90 per tonne, higher than its previous forecast of $77 per tonne, due to stronger demand from India and China. Production is seen at 66 million tonnes this year.
Bumi, which the politically connected Bakrie family and Nathaniel Rothschild control via London-listed Bumi Plc , plans to repay the first $600 million tranche of a $1.9 billion loan to the China Investment Corporation (CIC) in October.
Bumi has increased its forecast for 2011 average coal prices to $90 per tonne, higher than its previous forecast of $77 per tonne, due to stronger demand from India and China. Production is seen at 66 million tonnes this year.
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