India?s Knowledge Infrastructure in Kalimantan coal JV deal
Tuesday, April 19 2011 - 03:20 AM WIB
Indian trader Knowledge Infrastructure and privately held Indonesian firm PT. OSO International and have formed a joint venture to develop thermal coal mines in Kalimantan, Knowledge?s official told Petromindo.Com on Tuesday
Knowledge has signed the 50:50 JV deal last week, the official said, adding that Knowledge will handle marketing rights and financing.
PT OSO International has a coal mine through its coal unit PT Total Orbit Prestasi. The mine is coal contract of work (CCoW) holder, which is located in East Kalimantan and Central Kalimantan, the official said.
The mine is expected to start commercial operation in the third quarter of this year, the official said.
Coal production expects to start with an initial rate of 100,000 tonnes per month and ramp up to 500,000 tonnes per month a year after.
OSO International is headed by businessman and politician Oesman Sapta Odang. (denny)