Bhakti Coal to double output this year
Monday, March 20 2017 - 01:25 AM WIB
Petromindo
Coal mining firm PT Bhakti Coal Resources plans to double production of its mines in South Sumatra this year to 1.5 million tons from 750,000 tons last year following the recent recovery in the price of the commodity, Kontan reported on Monday.
The paper quoted Waskito Tanuwijoyo, General Manager for Exploration at the company, as saying that while production in the first two months of this year had been hampered by heavy rainfall, the company is still optimistic to be able to meet the full-year production target.
He said that the company will increase export this year particularly to India, which requires low-rank coal. Bhakti Coal, a subsidiary of IDX-listed investment firm PT MNC Investama Tbk, exports most of its coal output. He said that export this year will account for 70 percent of total output, while the domestic market 30 percent.
As part of diversification, Waskito said that Bhakti Coal is eying a coal-fired power plant project with capacity of 2x300 MW in South Sumatra (Sumsel VI project), which is estimated to require some 4.5 million tons of coal per year. (*)