ABM Investama?s unit acquires Media Djaya's coal mines
Monday, September 12 2011 - 06:54 AM WIB
BEL operates in the district of Seunagan and Suka Makmue, Nagan Raya Regency and MIFA operates in the Meureboe district.
Reswara acquired 70% shares of MDB in June 2011, the company?s official told Petromindo.Com. The mine is expected to start coal production next year, said the official without giving further details.
The mine has a concession area of 4,629 hectares with an estimated coal resources about 365 million tonnes. The coal project is located approximately 12 km from the coast of the Indian Ocean.
Reswara is planning to sell the coal produced from these concession areas to power plants in China and India for blending purposes.
Reswara also owns 99.99% of South Kalimantan coal miner PT Tunas Inti Abadi (TIA) and also owns 99.99% of PT Pelabuhan Buana Reja (PBR), a seaport terminal that is currently in the completion stage.
PBR was established on 2nd December 2010. PBR covers the area of general seaport ownership and management. The new seaport terminal that is located at Sebambam Baru, South Kalimantan is currently under construction and will be fully operational by the 3rd semester of 2011.
The terminal will be equipped with a Weight Bridge of 80 tonnes capacity, Processing Plant and ROM & Product Stockpile of 200.000 tonnes capacity, Barging Chutes and will have 2 Loading Facilities; one will be a 900 meter long conveyor belt with a load capacity of 1,500 tonnes of coal per hour; and the other one will be a 600 meter long concrete Jetty that will be used for loading and unloading barges. This facility will allow PBR to handle up to 7 million tonnes of coal per annum.
Earlier report said that ABM Investama plans to raise up to $300 million through an initial public offering in October. ABM Investama is part of Trakindo Group. (denny)