Kideco, Arutmin bag coal supply deal to Meratus Jaya
Tuesday, January 1 2013 - 07:00 AM WIB
South Kalimantan based steel maker PT Meratus Jaya Iron & Steel (MJIS) has signed long-term coal supply with price to be renegotiated annually with recognized coal miners, the company?s official told Petromindo.Com
MJIS has signed the deal with East Kalimantan coal miner PT Kideco Jaya Agung and south Kalimantan coal miner PT Arutmin Indonesia with contract duration of 10 years until mid of 2021 and 5 years until 2014, respectively. The official did not give the volume figure of each contract.
MJIS is a JV firm between state miner PT Aneka Tambang (Persero) Tbk (Antam) and state steel maker PT Krakatau Steel (KS). MJIS was established on June 9, 2008 with ownership percentage of 66% for KS and 34% for Antam.
MJIS has started operation of one unit out of two rotary kiln plants in 19, November this year. The plant will have a combined capacity of 315,000 tons of sponge iron per year. The company also has 2x14 MW power plant using Waste Heat Recovery Boiler (WHRB) technology.
Editing by Er Audy Zandri