Adani Group to keep investing in Indonesia
Thursday, March 15 2012 - 06:23 AM WIB
By Er Audy Zandri
India?s biggest coal importer Adani Group, recently stated its decision to continue its investment in Indonesia, despite risking their ownership of a majority stock at PT Adani Global, its subsidiary unit in Indonesia.
The group stated it will honor the Indonesian regulation and will adjust its business accordingly.
Recent information suggests that the company's coal import from Indonesia is expected to reach 33 million tons in the first trimester of this year, increasing about 10 percent from the same period in 2011. Its Indonesian unit PT Andani Global is currently involved in a US$2.4 billion worth of double track railway project in South Sumatra with PT Bukit Asam.
Editing by David Mustakim