Atlas Resources unit signs coal deal with PLN
Friday, September 14 2012 - 01:37 AM WIB
By Peni Pedriawan
Indonesia-listed coal mining company PT Atlas Resources Tbk said it that its subsidiary PT Hanson Energy has signed a coal and sales purchase agreement with state-owned electricity company PT PLN.
The company said in a statement issued Friday that the 20-year contract was signed on September 3, under which the company would supply 429,000 tons per year of low rank coal for PLN?s Teluk Naga power plant in Banten.
Under the deal, PLN can increase or reduce the coal supply by a maximum of 20 percent.
Editing by Reiner Simanjuntak