Adaro secures new contracts with Asian power plants

IDX-listed coal mining firm PT Adaro Energy Tbk said it had secured new long-term contracts to sell up to a total of 6 million tonnes of coal per year to customers in India, Thailand and Indonesia.

Marketing Director Alistair Grant told reporters on Wednesday that the customers are newly started power plants with each customer will consume 1.5-2 MTPA of Adaro?s coal. He did not give further detail.

Adaro aims to produce 42-45 million tonnes of coal this year, up from 38.5 million tonnes in 2008

He said the contracts would be for 15 years with first shipment planned end of the year.(bernard)