Aboitiz signs long-term coal supply deal with Indonesian coal miners
Monday, February 28 2011 - 02:55 AM WIB
The company has signed 10-year coal supply contract with East Kalimantan coal miner PT Kideco Jaya Agung and South Kalimantan coal miner PT Arutmin Indonesia. Both miners will supply 1 million tonnes per annum starting this year said Aboitiz?s EVP & COO Benjie Cariaso.
?The price is based on coal index and is subject to renegotiation annually,? he said without giving further details.
Earlier reports say the company had bagged 5-year contract with PT Kideco Jaya Agung, effective January 2010. The other supplier is PT Arutmin Indonesia, which is to supply the remaining volume of up to 500,000 tons in 2011. Arutmin has been supplying to Pagbilao since March 2010 and the supply contract will end by the end of 2011. (denny)