Adaro Indonesia to conclude contract amendment this year
Thursday, November 16 2017 - 04:01 AM WIB
Petromindo|Thomas
Coal miner PT Adaro Indonesia (AI), a subsidiary of IDX-listed coal giant PT Adaro Energy Tbk, is expected to sign before the end of this year the amendment of its coal contract of work (PK2B) with the government.
This was said by Adaro Energy President Director Garibaldi Thohir. ?God Willing (the contract amendment will be signed this year),? he said on Tuesday, following the signing of the amendment of the PKP2B of seven coal units under the Adaro Metcoal Companies.
He said that AI is still engaged in negotiation talks with the government over the contract amendment particularly regarding a new tax scheme. He did not provide details.
On Tuesday, seven coal firms under the Adaro Metcoal Companies signed their respective PKP2B amendment. The companies include PT Juloi Coal, PT Kalteng Coal, PT Lahai Coal, PT Maruwai Coal, PT Pari Coal, PT Ratah Coal and PT Sumber Barito Coal.
The Ministry of Energy and Mineral Resources said earlier that there are remaining 18 PKP2B contracts that yet to be amended to comply with the requirements set under the 2009 Mining Law, but is hopeful that the amendment process could be completed before the end of this year.
Editing by Reiner Simanjuntak