TBS Energi Prepares IDR 10.03 Trillion For Waste Processing Business To Electric Vehicles

JAKARTA - PT TBS Energi Utama Tbk (TOBA) has prepared capital expenditure (capex) of US$600 million or Rp10.03 trillion (exchange rate of Rp16,720 per US dollar) for the needs of the waste management business, renewable energy, and electric vehicles.

Director and CFO FFB, July Oktarina explained, this USD 600 million capex is the cost of capital expenditure until 2030.

"The estimated next 5 years to 2030 USD 600 million capex for three new businesses," said Juli at the launch of the new FFB Energi logo, Wednesday, November 12.

July added that in the future FFB Energi tid will again focus on the coal mining business, but rather the transformation towards a green and sustainable business. According to him, this transformation is a continuation of the FFB2030 initiative, a road map to carbon neutralness launched in 2021.

He explained that actually the coal business will still exist, but the portion will get smaller from year to year considering that FFB's coal resources will expire in the next two years.

"So we have also prepared the transition phase, including the closure of the mine, we will allow it in accordance with existing regulations. So related to the reclamation guarantee, as well as the vegetation, we will continue to maintain it, and still we will comply with existing regulations," he explained.

He ensured that in the future, with the smaller portion of the coal business, the space for our new business business, especially waste management, would widen.

"We see because we are an open company, we have many options," he said.