Bumi eyeing coal liquefaction business

JSX-listed PT. Bumi Resources is in talks with three companies from South Africa, US and Japan to develop coal to liquid business in Indonesia with US$3 billion investment, Bisnis Indonesia daily quoted the company?s president Ari Hudaya said.

Ari said that the project would be able to turn 47,500 tonnes of coal daily to become 80,000 barrels of synthetic oil per day.

Ari said that the three foreign companies offered different technologies to turn coal into liquid. ?We hope to pick one of them soon,? he was quoted as saying. He did not say where the coal would be sourced as Bumi had agreed to sell its entire stake in its two coalmines in Kalimantan for $3.2 billion last week. (*)