Businessman plans $2.3b coal infrastructure investment in Bengkulu
Monday, August 11 2008 - 02:22 AM WIB
Businessman Johanes Kotjo through his flagship PT.Pathaway International will invest up to US$2.3 billion to build coal infrastructure in Bengkulu province, Sumatra, Bisnis Indonesia reported on Monday.
The daily quoted Kotjo as saying that three international investment banks; UBS, Merrill Lynch and Bank of China, have expressed readiness to fund the project.
The company will build 300-km railway that will connect Pulau Baai port in Bengkulu to Kota Padang in the border of South Sumatra province. The railway will be capable of transporting 45 million tonnes per annum of coal.
The company also plans to develop a coal terminal in Padang Baai and the dredging works to deepen the port?s draft.
The project is expected to come on stream in 2012.
The railway will be used to transport the company?s coal production, which is expected to reach 20MTPA, PTBA?s coal and other miners? coal. (*)