Benakat to focus on coal infrastructure
Wednesday, October 2 2013 - 01:51 PM WIB
IDX-listed PT Benakat Integra Tbk., formerly known as PT Benakat Petroleum Energy Tbk, said on Wednesday it has decided to focus on the construction of coal infrastructures
?The decision has been made in view of the fact that the prospect of coal industry is still bright as a source of new energy. Furthermore, there have been now discussions about coal gasification. This (coal gasification) will certainly need new infrastructure,? Commissioner M Suluhuddin Noor told Petromindo.com after the firm?s General Meeting of Shareholders on Wednesday.
He said the firm will handle coal infrastructure business through its subsidiary PT Astrindo Mahakarya Indonesia (AMI).
?We envisage AMI will contribute around 80 percent of our EBITDA in the future,? Finance Director Michael Wong on the same occasion.
Aside from AMI, the firm?s revenue will come from the long-term contract of leasing conveyors and jetties to coal firms PT Kaltim Prima Coal and PT Arutmin Indonesia.
?The contracts are effective through 2021. The combined capacity of our conveyor and jetty is around 70 million tons per year,? Michael said.
Michael added at present, the firm is negotiating a contract to build infrastructure for several coal companies in Sumatra and Kalimantan, but he refused to name the companies.
Editing by Johannes Simbolon