Dayaindo Resources set to acquire Kalimantan coal mines firms in November
Saturday, July 21 2007 - 01:42 AM WIB
JSX-listed coal firm PT Dayaindo Resources International Tbk. is scheduled to hold a right issue in late November 2007, the proceeds of which will be used to acquire two coal mining companies in Kalimantan, CV Bina Insan Lestari Mandiri and CV Anugerah, Sindo Daily reported on Saturday.
Dayaindo’s Corporate Secretary Haris Anwar said in Jakarta on Friday that the management would bring the plan into the company’s shareholder extraordinary general meeting to obtain approval from the shareholders.
In June, Dayaindo formerly known as property firm PT Karka Yasa Profila Tbk planned to sign an acquisition and cooperation deals with coal mining owners in July.
“Total coal mine concession is about 20,000 hectares,” President Director Sudiro Andi Wiguno said on June, 2007.
The company planned to start coal-trading unit in the end of third quarter this year. It is currently exploring possibilities to sell future coal production to Indonesia Power’s Suralaya power plant and export to power plants in China. (*)