Tuesday, March 18, 2008
Indonesia's United Tractors to Invest US$200 million This Year
Source: Antara
Jakarta - Indonesian heavy equipment company PT United Tractors (UT) (JSX:UNTR) said it will spend US$200 million this year, mainly on new equipment.
United Tractors finance director Gidion Hasan said replacement of old equipment used by its subsidiary PT Pamapersada will cost around US$150 million.
PT Pamapersada operates in mining contracting service handling a number of projects awarded by a number of major coal mining companies such as PT Adaro Indonesia, PT Kaltim Prima Coal, PT Tambang Batubara Bukit Asam (JSX:PTBA) and Kideco Jaya Agung.
