Bhakti Investama to export 75% output to China, India

By Hiski Darmayana

IDX-listed investment company, PT Bhakti Investama would export about 75% of its expected total production of 3.5 million tons this year mainly to China and India with the rest would be supplied for domestic market.

?The coal for export would be from mine in East Kalimantan with the CV of 5,800 kcal/kg-6,000 kcal/kg,? Bhakti Investama director Darma Putra said, adding that the production from its South Sumatra sites with CV of between 5,100 and 5,300 kcal/kg would be aimed for domestic market.

He said that the company has also bound on the contract to export coal from South Sumatra as China and India also sought for middle CV.

Bhakti Investama has 9 coal concession areas, 8 are located in South Sumatra and 1 in East Kalimantan.

Bhakti Investama, established in Surabaya in November 1989, officially listed its shares on the Jakarta Stock Exchange and Surabaya Stock Exchange in 1997.

The company previously focused only on capital market related business activities which were previously re-activated by the government through a series of deregulation and facilities. By 1994, the company had grown rapidly in all aspect of capital market activities, ranging from trading and brokerage of marketable securities, investment advisory, investment management, underwriting, origination and syndication, financial advisory and research services. Bhakti Investama Tbk started to expand into mergers and acquisitions in 1995 and launched a few mutual funds in 1997 managed by the company.

Editing by Adianto P. Simamora