Indika Energy funds coal expansion projects
Indonesian coal producer PT Indika Energy Tbk will use a US$110 million loan to finance its expansion plans this year.
The loan from state-owned Bank Mandiri will be used as working capital for the company. Indika Energy is Indonesia’s leading integrated energy company.
Indika president director Arsjad Risjad, said the company plans to spend US$442 million this year to help finance the expansion of two of its subsidiaries: Petrosea (a mining and construction contractor) and Mitrabahtera Segara Sejati (a coal transportation and logistics services company).
The company will spend US$256 million to finance the expansion of Petrosea and Mitrabahtera. It will spend another US$130 million to finance the expansion of coal miner Multi Tambangjaya Utama over the next five years and another US$59 million for oil and gas exploration firm Mitra Energi.
Indika Energy has forecast its coal production at 37 million tons this year.
ABB continues to strengthen the Symphony Plus platform with features and functionalities that meet the needs of a varied and changing power and water market.
The industry giant forays into the Mainland with the introduction of the turbocharged 6-cylinder 4006-23TRS gas engine.
Last December Alstom Grid announced it had acquired Canadian Smart Grid technology company ASAT Solutions - a strategic move to offer integrated substation data management solutions for utilities and industrial customers worldwide.
Modularity of hardware and software to meet the changing and individual requirements of modern grids during the whole life cycle
Following a trial phase with various grid operators, Siemens Smart Grid has brought the new protection device series Siprotec 5 onto the market.
.jpg)
