JAKARTA. The capital expenditure (capex) of PT Bukit Asam Tbk (PTBA) for this year has been set high to IDR 6.4 trillion, way above the capex in 2022 of IDR 2.9 trillion. The capex is projected to be used for expansive investment.

Farida Thamrin, Director of Finance and Risk Management of PTBA, said that PTBA still has several existing expansive projects, including the Mulut Tambang Sumsel-8 Steam Power Plant with a capacity of 2x660 megawatts (MW).

The construction of said power plant will take up 5.4 million tons of coals per year. As of now, the progression of the construction has reached 97%. “This project is expected to begin operate commercially this year,” Thamrin added.

Meanwhile, the financial performance of PTBA in 2022 was deemed impressive after the net profit surge of 159% year-on-year (yoy) to IDR 12.6 trillion from IDR 7.9 trillion. The net profit growth coincided with revenue that skyrocketed 146% yoy to IDR 42.6 trillion. (AM/ZH)