CMNP to expand into mining infrastructure business

PT Citra Marga Nusaphala Persada Tbk, a toll road operator listed on the Indonesian Stock Exchange (IDX), plans to expand into mining infrastructure business to ensure the company?s future growth, as reported by Bisnis Indonesia

CMNP?s Finance Director Indrawan Sumantri said that the company planned to invest up to Rp 8 trillion in the mining infrastructure facilities but he did not say what kind of infrastructure facilities the company would build.

He said that the company planned to acquire a company involved in providing mining infrastructure facilities as an initial step of the long-term mining infrastructure business program.

?According to our initial plan, total investment for mining infrastructure business could reach between Rp7 trillion and Rp 8 trillion. As it is large investment, we need to comprehensively study the business plan,? he said as reported by Bisnis Indonesia.

Indrawan said that the company planned to issue rights shares and obtain bank loans to partly finance the expansion. (*)