Adaro says PCS to start coal production in 2019
Tuesday, May 23 2017 - 01:44 AM WIB
IDX-listed coal mining firm PT Adaro Energy Tbk said that its South Kalimantan coal mining unit PT Paramitha Cipta Sarana (PCS) is targeted to start commercial production in 2019.
The company said in an annual report published recently that PCS will supply its coal to a 2x100 MW coal-fired power plant currently under construction by PT Tanjung Power Indonesia (TPI), an indirect subsidiary of Adaro Energy.
?The coal in PCS is still being fully evaluated,? Adaro Energy said in the annual report.
Adaro Energy via subsidiary PT Alam Tri Abadi in 2013 acquired 75 percent interest in three South Kalimantan coal firms which form the Balangan coal project. The three firms, which include PCS, PT Semesta Centramas (SCM), and PT Laskar Semesta Alam (LSA), have a combined concessions of 7,500 hectares.
TPI is developing an estimated US$545 million coal-fired power plant project in Tabalong Regency, South Kalimantan, which is targeted to be completed in 2019. TPI is 65 percent by Adaro Power, a subsidiary of Adaro Energy Tbk, and the remaining 35 percent is held by PT East-West Power Indonesia, a subsidiary of Korea East-West Power Co Ltd.
Editing by Reiner Simanjuntak