Indonesia’s PT Timah planned to issue up to IDR1 trillion ($111 million) of bonds later this year to help finance its business expansion. Timah Finance Director Krishna Syarif told Dow Jones Newswires that the state-owned company will likely issue the planned bonds by the third quarter of the year.
Syarif added that the company plans to spend at least IDR2 trillion this and next year to increase its tin mining capacity and to expand its business. Timah is currently expanding its fleet of dredges and is also due to open a tin chemicals plant in the next few months.
