Alfa aims to complete second jetty by year-end

By Thomas Sembiring

Petromindo

IDX-listed coal mining company PT Alfa Energi Investama Tbk aims to complete construction of its second jetty in East Kalimantan Province at the end of this year to facilitate higher production plan.

Alfa President Director Aris Munandar said late last week that the second jetty, called Alfara Delta 2, is currently under construction process, and once completed will support the existing Alfara Delta 1 jetty.

He said that the company has allocated about 17.5 percent of the Rp 150 billion proceeds from recent initial public offering for financing the second jetty project.

Aris said that the second jetty will support the company?s plan to increase coal production to 1 million tons per year, compared to this year?s output target of around 530,000 tons.

Alfa operates a more than 2,000-ha coal concession in Kutai Kartanegara Regency, East Kalimantan, with mineable reserves estimated at around 6.58 million tons and resources of 21 million tons. The company exports its coal output to China, India and South Korea, and also allocated part of it for the domestic market.

Editing by Reiner Simanjuntak