Adaro to double output in 5 years
Thursday, May 15 2008 - 01:40 AM WIB
South Kalimantan coal miner PT.Adaro Indonesia plans to double coal production within five year?s time to tap booming global thermal coal market.
Parent company Adaro Energy said in a release Wednesday that Adaro will produce 80 MTPA starting 2013 from 40MTPA currently.
Adaro Energy is planning to launch IP in July this year, selling 35 percent shares to raise US$1.3 billion. The proceed from the IPO would be used to increase ownership in Adaro Indonesia, and sister companies coal terminal terminal firm PT.Indonesia Bulk Terminal, Singapore-based trader Coaltrade Services International and mining contractors PT.Sapta Indra Sejati.(denny)