Adaro hopes to capitalize on EGAT?s power projects in Thailand
Monday, February 13 2017 - 02:21 AM WIB
Petromindo|Khalsa
IDX-listed coal giant PT Adaro Energy Tbk aims to increase coal sales in Thailand as it hopes to capitalize on power plant projects being developed by Electricity Generating Authority of Thailand (EGAT), Kontan reported on Monday.
EGAT through subsidiary EGAT International Company Ltd acquired last year an 11.53 percent stake in PT Adaro Indonesia, the coal mining subsidiary of Adaro Energy.
The paper quoted Adaro Energy President Director Garibaldi Tohir as saying that EGAT plans to develop a combined 5,000 MW of coal-fired power plants in southern part of Thailand, which will require some 25 million tons of coal per year. ?There is possibility for Adaro to supply the required coal,? he said, but quickly added that it would also depend on the price.
Garibaldi said that aside from increasing domestic cost sales, the company is also seeking to increase coal sales in Southeast Asia region including Thailand due to better price than in its main traditional export markets of India, and China, where competition with Australian producers have recently intensified. Last year, export accounted for 74 percent of total production of 52.64 million tons. Adaro Energy has set coal production this year in the range of 52 million-54 million tons. (*)