ASL Energy plans to ship coal from E. Kalimantan concession next year

Singaporean firm ASL Energy is expected to commence shipment of coal from its Tabang coal concession in East Kalimantan in the end of the first half of next year, parent company ASL Marine said Friday.

?However, production of coal would take some time to reach its optimum capacity,? ASL Marine said in a statement without specifying number of production could bring by ASL Energy.

ASL Energy bought a 50.2 percent stake in Tabang coal mining concession for S$20.08 million (US$11.74 million) from Singapore?s Pan Assets International Limited in May this year. ASL Energy has also been granted an option to acquire the remaining 49.8 percent stake for S$19.92 million until July 31, 2005.

ASL Energy is equally owned by ASL Marine and Manhattan Investments. (Robert)