Indika acquires W. Kalimantan coal prospects
Thursday, December 18 2008 - 07:24 AM WIB
IDX-listed energy and contractor firm PT. Indika Energy Tbk reported on Thursday that it had signed deal to acquire West Kalimantan coal mines.
The company said its subsidiaries will buy shares of PT.Citra Prima Indah (CPI), which has majority stake in PT.Sindo Resources (SR) and PT.Melawi Rimba Minerals (MRM). SR and MRM coal concessions are located in Melawi regency, West Kalimantan.
The company also agreed to buy stake of Singapore-based Westlike Capital Pte. Ltd, which has right to get certain benefits from SR and MRM operations.(denny)