China, India continue to fuel demand for coal supply
Tuesday, August 21 2012 - 02:53 AM WIB
The company said that China and India ? the first and second largest importers of Indonesian coal since 2009 - are the key growth markets for its coal.
"Our main markets are for developing nations such as India, China, that require a lot of cheap energy in order to develop their nation. As along as the company sticks to its core strategy of lowering our production cost, and increasing our volumes, we don't see any problems in posting good growth and good profits in the years to come." Chief Operation Officer of Agritrade Resources Limited, Ng Xinwei, said as quoted by channelnewsasia.com.
Agritrade has increased its coal production capacity by five-fold, to almost 1.6 million tons this year and is looking to increase its production capacity and reserves by further exploring the remaining 1,400-hectares of its mine concession.
Agritrade is also on the lookout for opportunities to acquire other commercially viable coal assets in Indonesia.
It plans to maximize its production efficiency by upgrading its existing logistics and infrastructure facilities to reduce its coal transportation time, and to increase the volume of coal hauled, to lower costs and boost its profitability.
To further enhance its profit margins, Agritrade has started building its own coal upgrading facility, to blend, process and upgrade its coal into a higher quality coal.
Its coal upgrading facility will have a processing capacity of 500,000 tons of upgraded SEM coal per annum, and is expected to be completed by 2013. (*)