Adaro supplies coal to Siam Cement

IDX-listed coal giant PT Adaro Energy Tbk signed an agreement with Thailand?s Siam Cement Group for the supply of coal to the latter?s packaging and cement plants in Southeast Asia.

Kontan.co.id reported that the agreement was signed by Adaro President Director Garibaldi Tohir and Country Director of Siam Cement Group in Indonesia, Nantapong Chantrakul.

Kontan said that the coal will be used by the plants from end 2016 until 2017. The report, however, did not disclose the value nor the volume of the coal supply contract.

Meanwhile, okezone.com quoted Minister of Trade Enggartiasto Lukita, who witnessed the signing of the agreement on the sidelines of a trade expo in Jakarta, as saying that the value of the contract is US$12 million.

He added that another Thai firm has expressed interest to purchase around 50,000 tons of coal per month, and the two companies are still discussing the details. (*)