Dayaindo Resources to sign coal agreement
Saturday, June 30 2007 - 03:51 AM WIB
JSX-listed coal firm PT Dayaindo Resources International Tbk (Dayaindo), formely known as property firm PT Karka Yasa Profila Tbk will sign an acquisition and cooperation deals with coal mining owners next week, the company official said.
President Director Sudiro Andi Wiguno said on Friday that under the deal, the company would be involved in join operation scheme with four coal mining license (KP) holders and would acquire two coal mining concessions in East Kalimantan and South Kalimantan.
“Total coal mine concession is about 20,000 hectares,” he said.
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.
The company is expected to sell about 500,000-600,000 tons of coal this year to earn about Rp 112 billion (US$=Rp.9,100) through its trading unit, he said.
In the future, the company plans to develop mining infrastructure as well as exploring possibilities to build coal terminal, he added. (denny)