CNKO targets its newly acquired concessions to be on production stage this year
Tuesday, May 7 2013 - 11:56 AM WIB
After successfully finalizing the rights issue in December 2012, IDX-listed coal miner and power producer PT Eksploitasi Energi Indonesia Tbk. (CNKO) is targeting its coalmine in Central Kalimantan to be on production this year.
The newly acquired coalmine is possessed under CNKO?s subsidiary PT Sekti Rahayu Indah (SRI). Henry Sitanggang President Director of CNKO claimed SRI has 48 million tons measured resources of coal. Henry also described that of Rp. 1,7 trillion proceeds CNKO got from the right issue, around Rp. 550 billion will be allocated for SRI. Under its initial target of such corporate action, CNKO actually craved for Rp. 2,3 trillion of fresh fund to finance all its energy related plans.
CNKO newly acquired coalmine is located at Kotawaringin Timur regency with 2,721 hectares of total concession area. ?Currently we are installing the additional conveyor belt and developing hauling road and the coal port? added Henry
Besides expanding its coalmines, CNKO is also planning in coal port business in South Kalimantan. Under PT Truba Dewata Guna Prasana (TDGP) and PT Korporindo Guna Bara (KGB). The intermediary port is expected to connect the company's stockpile and its main port.
Editing by Adianto P. Simamora