Bhakti Investama builds coal terminal in Samarinda

By Hiski Darmayana

IDX-listed PT Bhakti Investama Tbk, an investment firm controlled by media tycoon Harry Tanoesoedibjo, is currently building a coal terminal near its coal mining concession in Palaran, near Samarinda, the provincial capital of East Kalimantan.

?We aim for the construction of the coal terminal to be completed this year. The capacity is planned for 400,000 tons per month,? company Director Darma Putra told Petromindo.com Thursday.

Darma said that in addition to accommodating the company?s coal production, the coal terminal will also accommodate output from other producers around Samarinda if capacity allows. ?With the new coal terminal, we could increase our margins by another US$2 or $3,? he added.

This year, the company plans to produce and sell 3-3.5 million tons of coal. Production will come from several concessions owned by the company in East Kalimantan and South Sumatra.

The company owns nine concessions including one in East Kalimantan, and eight in South Sumatra specifically in Banyuasin Rengecy. Of the nine concessions, only four have progressed to production stage including one concession in East Kalimantan and three in South Sumatra.

?We have set a target for another three concessions in South Sumatra to start producing this year, and the remainders next year,? Darma said.

He added that almost all of the company?s coal output are exported particularly to China, South Korea and India.

While Bhakti Investama?s main revenue generator is the media business, the company has been diversifying to energy, resources, and infrastructure sectors to help ensure sustainable earnings growth going forward.

Editing by Reiner Simanjuntak