Until August 2017, TINS Realizes Capital Expenditure of Rp 920 Billion

INDUSTRY.co.id - Jakarta - PT Timah Tbk (TINS), a state-owned tin producer and BEI issuer, until August 2017 has realized capital expenditure (capital expenditure / capex) of Rp920 billion. That only reached about Rp40% of total allocation of TINS ​​capex in 2017 which reached Rp2, 3 trillion.

"The TINS ​​capital expenditure budget this year will be used to purchase the Suction Hull (KIP) for additional fleets to support the company's production activities. In addition, TINS ​​will also use the budget to finance the capacity increase of the company's smelter," said Emil Ermindra, TINS ​​Finance Director, in Jakarta, Friday (25/08/2017).

Emil pointed out that part of the Rp920 billion from the capital expenditure budget of TINS ​​is used to pay for KIP procurement and partly to pay for the first phase of the smelter capacity.

Indeed, so far, so Emil, TINS ​​management using capital expenditure budget to finance exploration activities, which are looking for new tin mining resources and improve production facilities.

In 2017, the total capital expenditure budget allocated TINS ​​reached Rp2, 6 trillion. The budget of Rp2.3 trillion will be used to finance the company's consumption and the remaining Rp300 billion will be used as a capital expenditure fund for TINS ​​subsidiaries.

TINS capital expenditure funds come from internal funds and external financing sources. One of the external sources of financing run by the company is the issuance of bonds. (Abraham Sihombing)