Bukit Asam to issue global bonds
Bukit Asam (PTBA) plans to issue global bonds, and the funds raised will be used to build several power plants in 2017. The company has allocated capex of US$300m-400m this year which will be used to build power plants. Currently, the company is developing Mulut Banko Tengah power plant which has capacity of 2x620MW. It is expected to be completed in 2020. The company also plans to build power plants in several areas – Mine Mouth Peranap, Halmahera and Kuala Tanjung – and these power plants will have capacities of of 800-1,200MW, 2x40MW and 3x350MW respectively. The company estimates that it will require capex of US$500m in 2017.