BlackGold obtains coal supply contract from Semen Padang
Tuesday, February 28 2017 - 01:47 AM WIB
Courtesy of BlackGold
SGX-listed BlackGold Natural Resources Limited through its Indonesian coal subsidiary PT Samantaka Batubara (PT SB) has received a coal purchase order (PO) from an Indonesian state-owned cement company PT Semen Padang.
BlackGold said last week that the PO has an approximate value of US$12.6 million and, barring unforeseen circumstances, the group expects to complete the PO within the next 11 months.
Founded in 1910, Semen Padang is a state-owned company and a subsidiary of IDX-listed PT Semen Indonesia (Persero) Tbk, a cement manufacturing company listed on the Indonesia Stock Exchange and the largest cement distributor in Indonesia.
Philip Rickard, Chief Executive Officer of BlackGold, commented: "We are very pleased to receive this purchase order from Semen Padang. This order represents another critical milestone for BlackGold, as the Group adds another esteemed state-owned company to its current portfolio of customers."
BlackGold through PT SB obtained coal supply contract from Indonesian state-owned power firm PT PLN in December of last year for an annual delivery of coal to the PT Tenayan project, a new 210 MW power plant in Riau Province. The first delivery of 5,000 tons of coal was completed on February 10.
Editing by Reiner Simanjuntak