Ancora wins $25m per year explosive supply contract from Adaro
Tuesday, August 9 2011 - 01:16 AM WIB
IDX-listed firm PT Ancora Indonesia Resources, Tbk reported on Monday that its explosive maker subsidiary PT Multi Nitotama Kimia(MNK) has won a contract from South Kalimantan coal miner PT Adaro Indonesia .
Under the US$25 million per annum contract, MNK will provide explosive supply and services to Adaro for three years.
MNK is currently expanding its plant to enable ammonium nitrate production to increase to 140,000 tonnes per annum from 37,000 tpa currently. Completion of the plant is expected in the second half of this year, the company said. (alex)