Govt transfers Pelayaran Bahtera Adiguna (PBA) ownership to PLN

Indonesia?s state enterprise ministry has transferred ownership of state shipping firm PT Pelayaran Bahtera Adiguna (PBA) from the government to state electricity firm PT Perusahaan Listrik Negara to improve its performance and help PLN to reduce costs for shipping its coal, PLN said in its press release on Friday

The ministry represented transferred all 21,674 shares of PT PBA worth Rp90.23 billion to PLN as part of the government?s plan to restructure the company?s business, which had been poor in the past five years, the ministry said in the statement.

The government of Indonesia had held full ownership of PT PBA.

?PLN will develop PBA into a healthy business entity,? the company said, adding PLN will turn PBA into its shipping subsidiary.

?Additionally, the transfer of ownership will benefit PLN . It will secure distribution of coal supply to the company?s power plant and improve costs efficiency of shipping the coal,? it said.

PLN will need 65 million tonnes of coal a year with the operation of 10,000 MW additional electricity generating capacity this year.(*)