Jakarta: Publicly listed shipping company PT Humpuss Intermoda Transportasi said it plans to spend more than US$1.1 billion in the next four years to buy 29 vessels to support business expansion.
Company president Agus Darjanto said funds would come from a combination of internal and external sources including the selling of old vessels, bonds and rights shares.
Six of the vessels were already bought in the first half this year at a total price of US$114.6 million, Agus said.
More vessels will be purchased until 2012 including nine dry bulk vessels, nine chemical tankers, four floating loaders and one container vessels, the newspaper The Jakarta Post said.
The company plans to issue a global bond valued at US$150 million to finance part of the procurement. [30/7/08]
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