Bukit Asam eyeing coal mine in Myanmar
Friday, April 26 2013 - 02:06 AM WIB
PTBA president director Milawarma confirmed the company had sent a letter to the Myanmar government regarding its interest in investing in the country.
The state company had disclosed at least three potential businesses in Myanmar, including coal mining, development of coal-fired power plants and supplying coal to the country.
?We may cooperate with local companies, as suggested by the government,? Milawarma said after PTBA?s annual general meeting on Tuesday.
Based on a document from Myanmar?s Ministry of Mines website, the Southeast Asian country has over 300 coal occurrences with estimated deposits reaching 480 million tons.
The Indonesian government is expecting Indonesian companies to increase investment in Myanmar, which is expected to be a place of massive development following political and economic reforms.
Although Indonesia has been dubbed as the largest nation in Southeast Asia, its investment in Myanmar has reached only US$241 million since 1988, according to figures from the Union of Myanmar Federation of Chambers of Commerce and Industry.
Besides PTBA, several other state-owned enterprises have announced their plans to open businesses in Myanmar, including lender Bank Negara Indonesia, electricity company PT PLN, oil and gas company PT Pertamina, tin miner PT Timah, construction firm PT Wijaya Karya and cement producer PT Semen Indonesia. (*)