Bukit Asam to go public in June
Tuesday, March 5 2002 - 01:09 AM WIB
The state-owned coal mining giant PT Tambang Batubara Bukit Asam will go public in June this year as part of the government privatization program, according to company president Ismet Hermaini.
Ismet said that the privatization plan had been confirmed by the office of the State Minister of State Enterprises.
The government is planning to privatize several state firms this year to raise some Rp 6.5 trillion (US$1=Rp 10,100) in cash to help plug the 2002 state budget deficit.
Asked about production target of the South Sumatra-based coal miner, Ismet said that Bukit Asam?s coal output this year was targeted to increase to 11.2 million tons from 10.4 million tons last year.(Amoros)