ABM Investama plans to boost production to 12.5 MT in 2014
Tuesday, November 8 2011 - 07:49 AM WIB
Energy integrated provider PT ABM Investama, an energy unit of PT Trakindo Marga Tiara (TMT) plans to boost its coal production to 12.5 million tonnes in 2014, from this year?s target 2.7 million tonnes, the company official said.
Corporate strategy director of ABM Investama, Yovie Priadi said on Tuesday that the additional coal production will come from its new coal mine PT Media Djaya Bersama (MDB) in Aceh, which the company has acquired in June this year.
About 70 percent of 12.5 million tonnes total production in 2014 will be produced by MDB mine and the remaining will be coming from its South Kalimantan coal mine PT Tunas Inti Abadi (TIA), Yovie said. At present, all the ABM coal is from TIA mine.
ABM Investama plans to conduct initial public offering (IPO) in December this year to finance the coal output boosting efforts and expanding its energy-related business in general. (giok)