Berau Energy acquires shipping firms
Saturday, May 21 2011 - 01:31 AM WIB
Indonesia-listed coal mining firm PT Berau Energy, a parent company of East Kalimantan coal miner PT Berau Coal has acquired 100 percent stake in shipping firms PT Mutiara Tanjung Lestari (MTL) and PT Pelayaran Sanditia Perkasa Maritim (PSPM).
Berau Energy said in a statement on Friday that it bought 100% share of MTL from PT Marom Jaya and a person named Wisnu Wahyudin Pettalolo with value of Rp 96 billion (1US$ = Rp 8,500). As for PSPM, the company acquired it from PT Calidal Transshipment for US$7.75 million.
Both transactions were signed on May 18, it said.
Berau Energy through its coal miner Berau Coal is expected to produce 20 million tonnes of coal this year, up from 17 million tons in 2010 and it has planned to boost its output to 30 million tonnes per annum in 2014. (denny)