Indo Straits receives LoI for coal transshipment service
Friday, October 2 2015 - 01:27 AM WIB
IDX-listed marine civil contracting company PT Indo Straits Tbk (PTIS) said that its subsidiary PT Pelayaran Straits Perdana (PTPSP) has received a Letter of Intent (LoI) for providing transshipment services to support the operation of a leading company specializing in transport and logistics services for energy related products.
The company said in a statement Thursday that the project is scheduled to start October 1, providing coal transshipment services in East Kalimantan for a coal mining company, a client of the logistic services company. Indo Straits did not disclose the name of the would-be client nor the coal company, which is only described as one of the largest in Indonesia.
Indo Straits said that the value of the three-year and eight-month-contract is about US$16.5 million. It added that if the company finally obtains the contract, it would be the second business cooperation with the logistic service company after a similar contract was completed in March of last year.
Editing by Reiner Simanjuntak