East Kalimantan plans special meeting to discuss KPC divestment
Wednesday, January 3 2001 - 05:00 AM WIB
The East Kalimantan House of Representatives plans to hold a special meeting with the legal advisors of the giant coal mining company PT Kaltim Prima Coal (KPC) and of the provincial administration in a bid to seek legal clarification over the KPC mining contract, according to Parliament Speaker Sukardi Djarwo Putro.
Sukardi was quoted as saying by the local Kaltim Post daily that the special meeting was expected to take place sometime this month.
Sukardi said that the meeting would help expedite the divestment process of the KPC stake.
He said that the parliament had been disappointed over the failure of the provincial administration in acquiring KPC shares in 2000.
He said KPC insisted that according to its 1982 mining contract it was only obliged to divest 37 percent stake in 2000, while the East Kalimantan administration insisted that KPC must divest up to 51 percent according to the contract.(*)