IBT fuel terminal starts storing ops

IDX-listed coal mining firm PT Adaro Energy Tbk reported on Friday that a fuel terminal at its coal terminal in Pulau Laut, South Kalimantan has started storing fuel.

?The first Shell tanker arrived Friday, April 16th 2010 at IBT terminal to start the loading of the first storage tank. The loading on the second storage tank is in progress and it is expected both the Marine Loading Arm and jetty pipeline will not incur any major problems,? the Company said.

On September 1, 2009, Adaro Energy through its coal terminal subsidiary PT Indonesia Bulk Terminal (IBT) signed a fuel facilities agreement with PT Shell Indonesia, a unit of Royal Dutch/Shell. This agreement includes the construction of the fuel storage terminal with capacity of 60,000 tonnes at IBT?s facility.

The IBT Fuel Terminal Project is aimed at ensuring a guaranteed and lower cost fuel supply for Adaro?s operations, while at the same time developing liquid bulk-based traffic for IBT from fuel storage and delivery.

During the first quarter of 2010, Adaro Energy?s contractors completed construction on the fuel jetty and electrical work, while the work on the fuel tank storage facilities was completed at the end of 2009.(alex)