Cipta Kridatama bags $63m contract

PT Cipta Kridatama (CK), a subsidiary of IDX-listed PT ABM Investama Tbk. has again been awarded a US$63 million mining service contract from PT Bangun Olahsarana Sukses (BOSS), a subsidiary of PT Megah Pratama Resources

The contract was signed CK?s President Director Yovie Priadi and BOSS?s President Director William Siawira on Aug. 15, 2014, CK said in a statement on Tuesday.

The contrac involves the removal of top soil and overburden, coal hauling, heavy equipment leasing, maintenance of hauling road leading to BOSS? pit in Kutai Barat regency, East Kalimantan.

During the contract period, CK is targeted to remove 23 bcm of top soil and overburden and extract 1.5 million tons of coal per year.

Yovie said the new contract will allow CK to maintain a postive financial performance amid the current coal market slowdown. ?Our success in obtaining new mining contracts evince that customers are satisfied with CK?s service,? he said.

In 2013, CK managed to obtain new mining contracts worth a total of $839.27 million. The contracts cover several mining locations in South Sumatra and East Kalimantan. At present, CK?s mining operations are scattered in various locations in Aceh, Bengkulu, South Sumatra, South Kalimantan and East Kalimantan.

Editing by Johannes Simbolon