Kepco seeks coal mine in Indonesia
Monday, November 29 2010 - 01:22 AM WIB
South Korea state-owned utility Korea Electric Power Corporation (Kepco) is seeking to acquire more coal mines in Indonesia, after successfully acquiring a 20 percent stake in listed coal mining group PT Bayan Resources, the company?s official said.
Kepco is looking for coal mines with minimum reserve of100 million tons and a calorific value of up 6,000 kcal/kg (ADB), the official told Petromindo.Com, recently.
?We prefer to invest in Kalimantan, which has an infrastructure,? the official said without giving further details.
In July 2010, Kepco bought a 20 percent stake in Bayan for US$515 million to secure its coal supplies. Bayan will supply 2 million tons of coal per annum to Kepco starting in 2012 and wiill increase the supply to 7 million tons per annum in 2015.
In July 2009, Kepco acquired a 1.5 percent stake in PT Adaro Energy Tbk, for $56.5 million. (denny)