Jasper sells C. Kalimantan coal concession to Saraburi
Monday, January 22 2007 - 04:37 PM WIB
Singapore Exchange-listed investment firm Jasper Investments Limited announced Monday it had agreed to sell its 95 percent stake in PT.Multi Tambangjaya Utama (MTU), a coalmining concession in Central Kalimantan to Thai firm Saraburi Coal Co.Ltd.
The company said that under the deal Saraburi would pay US$ 200,000 to Jasper and PT.Rimbunkencana Asrimegah, an Indonesian firm which holds 5 percent shares of MTU, plus $5.5 million loan given to MTU by the company.
MTU is a third generation coal contract of work concession.
Completion of the transaction is expected to take place by April 2007, said the company.(alex)