Banpu to invest $30m in '03 mainly to boost coal output: Report
Thursday, January 30 2003 - 01:35 AM WIB
Thailand's major coal miner company Banpu plc said Wednesday it set an investment budget of US$30 million for this year mainly to increase coal production.
Chanin Vongkusolkit, the company's managing director, said Banpu's coal output will likely rise to around 25 million metric tons a year in 2007 from the current 15 million tons, a 67 percent increase.
"The big jump in coal production will come from our coal mining sites in Indonesia, as the production of our unit Indocoal will run at full capacity in 2007," Chanin told Dow Jones newswires.
Indocoal consists of 4 companies, 2 of which are located in East Kalimantan and already production, namely PT Indominco Mandiri and PT Kitadin Corporation. The other 2 are still in exploration activities, namely PT Trubaindo Coal Mining in East Kalimantan and PT Barasentosa Lestari in South Sumatra. (*)