AKR acquires South Kalimantan coal hauling & port firm

Indonesia-listed logistics and fuel supply firm PT AKR Corporindo, through its coal mining unit, PT Anugerah Karya Raya has acquired a local firm called PT Jabal Nor with a value of Rp24.3 billion, the parent company said in an announcement on Monday.

Jabar Nor has a business in coal mining, trading, development services, hauling, port and maintenance services.

The company will buy Jabar Nor?s share gradually. Once the acquisition is complete, Jabar Nor will focus on coal hauling road and port in Tapin regency, South Kalimantan, AKR said.

Beside AKR, Jabar Nor?s shareholders are individual businessman, Lukman Purnomosidi, Nor Ayadi, and PT Daya Kalimantan Baru.

In May 2011, PT Anugrah Karya Raya (AKR Coal) has set up a JV company to operate a coal haul road in Barito Utara regency, Central Kalimantan. The company has 50 percent stake at the JV company called PT Berkah Rukun Bersama with the remaining balance held by PT Austral Byna, a company that owns a forest concession area in the regency.

The JV is set up to support AKR?s coal mining operations in the regency and will also offer haul road service to the surrounding coal miners, the company said.

The company said it has also started construction of a coal terminal in Buntok Baru, along the Barito River, which will be utilized as shipment point for coal from the region.

AKR Coal controls five coal concessions in Barito regency with total area of 24,000 hectares. The company has 87.5 percent stake in AKR Coal. The company is planning to produce 2 million tonnes next year.(romel)