JAKARTA - PT Adaro Energy Tbk (ADRO) has allocated US$ 600 million for capital expenditure this year, and already realised about US$ 245 million.
Adaro Energy CFO Lie Luckman said that capex would be sourced from the company's internal cash, at the amount of US$ 895 million in the first half of 2019. "Cash post drops from the figure at the same period last year due to acquiring Kestrel," he said.
According to Mr Luckman, the budget is allocated for maintenance equipment in PT Sapta Indra Sejati and Adaro Metcoal Companies (AMC) at US$ 200 million, respectively, and the rest will be distributed for maintenance equipment in Adaro Indonesia.
Based on the company's information disclosure, the company realised US$ 245 million in the first half of its capex, went up from US$ 161 million in the same period last year. (LK/W)