East Kutai regent vows to safeguard KPC operation
Monday, December 3 2001 - 05:58 PM WIB
The regent of East Kutai Awang Faroek Ishak on Monday vowed to safeguard the operation of coal mining giant PT. Kaltim Prima Coal despite continuing legal battle between the company?s shareholders and East Kalimantan provincial administration.
?We would not let any party to disrupt KPC?s production activity to enforce their own interests,? Awang told Petromindo.com on a sideline of a parliamentary hearing regarding KPC shares divestment.
?Continuity of KPC production is our paramount concern,? he added.
KPC, the country?s second largest coal producer operates in Sangatta, East Kutai.
East Kalimantan provincial administration brought KPC shareholders, BP Plc and Rio Tinto to court after the negotiation to purchase 51 percent of KPC shares stalled.
East Kalimantan government insisted that it had preferred right to acquire KPC shares and asking for far lower price than KPC shareholders offered. (alex)