Bayan?s unit signs $273m coal transportation contract
Monday, May 26 2014 - 04:23 PM WIB
By Romel S. GUrky
IDX-listed coal mining firm PT Bayan Resources Tbk announced on Monday that its subsidiary, PT Indonesia Pratama (IP), has signed a transportation service contract worth US$273 million with PT BIS Industries.
Under the contract, signed on May 22, 2014, BIS is obliged to transport a total of 64 million tons of coal from IP?s intermediate crushing facility at the mine?s location to the stockpile and/or jetty in Senyiur, East Kalimantan. The contract has a duration of seven years.
BIS, a coal transportation service provider, has no affiliation whatsoever with IP or the company.
Editing by Johannes Simbolon