Indika's MTU to start production in H2
Wednesday, May 15 2013 - 09:52 AM WIB
By Hiski Darmayana
IDX-listed PT Indika Energy Tbk sets target to start the production of its Multi Tambangjaya Utama (MTU) in second quarter this year. The company is currently waiting for the borrow and use forest permit.
?We are also overseeing trend of coal price. The recent decline of coal price is one of the reasons for not commencing the production," director Azis Armand told Petromindo.com.
Armand said that initial production target was 1.2 million ton per annum. The company has concession of 24,970 hectares in three regencies of Barito Selatan, Barito Timur and Barito Utara.
The company has a coal terminal with a capacity of 5 million tons per year.
Editing by Adianto P. Simamora