VIVAnews – PT Indika Energy has prepared US$270 million for corporate expansion and acquisition.
The company has spent US$130 million of a total US$400 million per June to develop its three main businesses, which are contractor, power plant, and resources.
“[The corporate] budget until June was US$400 million, and after the development and tender offer, the current budget is US$270 million,” said Indika Energy’s financial director Azis Arman in Jakarta on Thursday, Oct. 8.
He said that the company always monitors any prospect. “If [the prospect] is clear, the fund will be readied,” he said. The funding will be used for developing or acquiring new companies.
Indika was reported previously to aim Berau Coal and BHP Biliton shares. In the corporate public disclosure in May, Indika prepared Rp 250-300 million to acquire several mining companies. Indika was targeting 90 percent Berau Coal shares.
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Translated by: Ariyantri E. Tarman
