Harum seeks to expand business to IPP
Wednesday, May 24 2017 - 01:56 AM WIB
Petromindo|Lucky
IDX-listed coal miner PT Harum Energy Tbk is seeking to expand business to coal-fired electricity generation and has earmarked internal funds of around US$200 million for the purpose.
CEO Ray Antonio Gunara told reporters on Tuesday that the company has formed JV with several international companies and has participated in several coal-fired and mine-mouth power plants IPP tender conducted by state electricity firm PT PLN (Persero).
?However, until now, PLN has yet made announcement to the tender results,? he said.
Harum has 4 coal concession in East Kalimantan, with one producing mine, PT Mahakam Sumber Jaya. The mine is expected to produce 4-4.5 million tonnes of coal this year.
Editing by Alexander Ginting