Adaro acquires local firm to develop floating coal terminal
Wednesday, July 6 2011 - 01:37 AM WIB
Indonesia-listed energy firm PT Adaro Energy Tbk, through its wholly owned unit PT Alam Tri Abadi has acquired 85% shares of PT Indonesia Multi Purpose Terminal (IMPT).
Alam Tri Abadi acquired IMPT through its subsidiary PT Sarana Multi Persada.
Adaro bought 85% shares of IMPT for Rp2.12 billion (1US$ = 8,540) in July 1. IMPT is port management company and has secured concession to build and operate a floating terminal in Taboneo, Banjarmasin port, South Kalimantan.
The acquisition will maintain and develop the group's logistic operation in the Taboneo waters, Adaro said. (denny)