Samindo Resources targets revenue this year to grow 36%
The integrated mining services company, PT Samindo Resources Tbk, targets to increase its mining service revenues by 36% by 2018.
By the end of 2018, Samindo expects total consolidated revenue to reach US $ 255 million. The main factor driving the increase of the company's opinion in 2018 is the increase in the volume target charged by the client.
This is stipulated in a point of agreement that has been approved by Samindo and PT Kideco Jaya Agung, starting in 2018, the target of all subsidiaries Samindo contractor PT Kideco Jaya Agung at least equal to or higher than the target in 2017.
Currently Samindo is responsible for providing 4 services for Kideco through its four subsidiaries, namely overburden removal, coal getting, coal hauling and exploration drilling. This means the entire revenue segment of the company
will record positive growth in 2018.
In addition, a positive boost also comes from the Bayan project. The Company has started to work on one of the Bayan group's mine sites since mid-2017. By 2018, the volume charged by the Bayan group has doubled from last year as it was done since the beginning of the year. While in 2017 the project starts in mid-year.
"We see the year 2018 as a turning point, after two years our client withholds the production level," said Zaki, Investor Relations Manager of PT Samindo Resources Tbk in his official statement.