Kariangau Power extends coal SPA with Bayan
Saturday, June 17 2017 - 04:02 AM WIB
By Alexander Ginting
Singapore-listed firm Manhattan Resources Limited reported on Friday that its subsidiary PT Kariangau Power had on 14 June 2017 entered into a supplemental agreement to extend the Coal Sales and Purchase Agreement with Bayan International Pte, a unit IDX-listed PT Bayan Resources Tbk.
The Supplemental Agreement will be valid until 30 April 2019, the company said without giving further detail.
Manhattan and Bayan Resources are controlled by businessman Low Tuck Kwong.
Kariangau owns and operates a 2X15W coal fired steam power plant in special industrial zone zone in Balikpapan, East Kalimantan. Manhattan has 92.18% stake in Kariangau Power.