Jakarta. PT Petrosea Tbk, which belongs to tycoon Prajogo Pangestu, recently announced that the company would make a Rp 6 trillion or around $400 million investment as part of its business expansion strategies. The money will go into buying new mining equipment as the company develops its existing mining services portfolio. 

For the first phase, Petrosea --also known by its ticker symbol PTRO-- has secured mining equipment from PT United Tractors Tbk (UNTR), PT Trakindo Utama, PT Indotruck Utama, PT Indo Traktor Utama, and PT Eka Dharma Jaya Sakti.

"We bought these mining equipment to support new mining service projects, as well as part of our anticipatory steps to enable a sustainable business growth,” Petrosea’s mining and mine services director Iman Darus Hikhman was quoted as saying in a recent press statement.

The company has carried out what it calls the “first-cuts mining operation” in several new projects located in Central Kalimantan to officially start the operational activities. The first-cut for PT Multi Tambangjaya Utama in South Barito regency took place on Sep. 2. The first-cut for PT Pasir Bara Prima in Kapuas regency took place on Sep. 8, 2024, according to PTRO.

PTRO offers a diverse range of services for the coal and mineral mining sector and is known for its pit-to-port services. This includes open pit contract mining services, civil & infrastructure construction, and mining project management services. Other services include technical and feasibility study consulting services, mine planning and optimization services, as well as Minerva Digital Platform solutions that use state-of-the-art technology to improve efficiency and productivity.

Petrosea also has the ability to monitor and control operational activities in various projects by utilizing real-time data through the remote operations center located at the company's head office.

Petrosea said that all of its operational and financial targets were supported by robust occupational, safety, health, and environment (K3L) regulations. The company has adopted zero accident targets,  operational excellence, and continuous improvement, as well as risk management. PTRO also embraces good corporate governance (GCG) principles as part of its strategy to be a sustainable company. image widgetmage widget