Banpu Indonesian coal secures sales revenues $ 195.32 million in 2002

Thai energy conglomerate Banpu Public Company Limited reported on Wednesday it coal sales revenues for 2002 fiscal year ended December 31, 2002, was Baht 10,618 million (or around US$ 250.54 million), of which about Baht 8,305 million (or around US$ 195.32 million) accounted for its Indonesian coal sales to international markets.

Banpu said it coal sales revenue in last year was more than doubled, compared to previously year's of Baht 5,415 million, due to its further investment in Indonesian coal mining.

?As a result, the company?s combined coal production volume from Thailand and Indonesian operations in 2002 increased from 6 million tons to 13 million tons,? Banpu said in a statement.

For 2003, Banpu will continue the business direction and policy similar to what were employed last year, with main focus in the increase of production efficiency, the cost reduction and the emphasis on good corporate governance practices.

?In 2003, Banpu will carry on the focus in coal and power businesses. The coal sales in both Thailand and Indonesian are targeted totaling at 15 million tons, 30 percent of which will be distributed in Thailand while the remaining 70 percent will be exported to other countries, mostly in Asia,? the company added.

Banpu said earlier that the company planned to invest further US$ 40 million in 2003 fiscal year in its Indonesian coalmines and to boost output to 11.5 million tons from around 10 million tons last year.

Banpu operates three producing coalmines in Indonesia, Jorong Baturama Greston in South Kalimantan, Kitadin and Indominco Mandiri in East Kalimantan, and another three in advanced exploration stage. (robert)