17 companies interested in acquiring PT Berau Coal
Tuesday, November 27 2001 - 02:38 AM WIB
At least 17 companies have filed proposals to buy PT United Tractors? 60 percent stake in East Kalimantan-based coal mining company PT Berau Coal, Bisnis Indonesia reported on Tuesday.
United Tractors? General Manager Tjandrawati Waas said in Jakarta on Monday that the 17 companies would be soon short-listed in accordance with the criteria already set by the company.
"After the withdrawal of PT Timah Tbk, there are 17 new applicants to buy the share in Berau Coal," he was quoted as saying by the daily. He said that the due diligence on the short-listed investors would be carried out in January next year.
PT Berau, which operates thousands of hectares of coal mining concessions in East Kalimantan, produces about 4.9 million tons of coal this year. In 2006, the company?s coal production is estimated to reach about 13 million tons. (*)