Citra Marga cancels planned coal road in S. Sumatra

By Hiski Darmayana

IDX-listed toll road company PT Citra Marga Nusaphala Persada Tbk has decided to cancel its plan to develop a coal hauling road in South Sumatra due to the drop in coal prices.

?We actually think this is a good project. But unfortunately, the price of the commodity is not quite good which will affect the feasibility of the project. So we decided to (get) out of the project,? Corporate Secretary Indrawan Sumantri told Petromindo.com Monday.

Late last year, Citra Marga expressed plan to develop a 100 km hauling road in South Sumatra, but did not disclose the specific location of the planned project. ?We exit from the project properly, so there?s no problem with our candidate partner,? Indrawan said.

Editing by Reiner Simanjuntak