Alam Karya revises coal supply contract with Beringin Jaya

By Romel S. Gurky

IDX-listed mining services firm PT Alam Karya Unggul Tbk announced Fit has signed on Wednesday with coal miner PT Beringin Jaya Abadi a revision to a December 5 coal supply contract.

Alam Karya said in a statement Friday that the upfront payment to be made by the company for the supply of 2.5 million tons of coal by Beringin has been revised upward to US$4 million from $3.5 million under the original one-year contract.

The company will make the payment the first payment of $3 million by December 13, the second tranche of $600,000 by December 31, and the remaining $400,000 to be considered once the coal supply volume has reached 2 million tons.

Editing by Reiner Simanjuntak