INVS to acquire five coal mining concessions in West Kalimantan
Saturday, February 4 2012 - 02:43 AM WIB
Indonesian-listed mobile application services provider PT Inovisi Infracom Tbk (INVS) has said that it would acquire five coal mining concessions in West Kalimantan at Rp1.4 trillion.
Director of INVS Adrian Ooi said that the acquisition was expected to be completed before June with majority of fund needed for the acquisition would be from loans.
?We are in talk with a number of banks for the loan. They (the banks) have agreed to provide the loan (for the acquisation),? Adrian said as quoted by Kontan.
He said that the five coal concessions have coal deposits with calorific value of 6,000 kcal/kg.
INVS? subsidiary, PT Goldchild Integritas Abadi (GIA) had earlier completed the acquisitions of five concessions covering 34,000 hectares in Central and East Kalimantan. (*)