Bowen enters Indonesia coal venture

ASX-listed firm Bowen Energy announced on Wednesday that its subsidiary Bowen Energy (Asia) P/L had signed an MoU with Asia Pacific Coalindo (APC) to jointly explore a thermal coal project in Kalimantan.

Both parties will embark on a 50-50 JV to acquire a lease of up to 5,000 hectares.

APC is a subsidiary of PT.Rukun Makmur, which in turn, is a unit of Indonesian conglomerate Tamara Group.(alex)