Kideco plans 2004 production increase, bags contract from Komipo
Tuesday, December 2 2003 - 05:48 AM WIB
East Kalimantan-based coal producer PT. Kideco Jaya Agung is targeting to produce 15 million tons of coal next year, higher than this year?s predicted production of 13.8 million tons, a company official said Tuesday.
The company initially planned to produce 12.5 million tons of coal this year.
?Efficiency improvement measures had increased Kideco?s installed capacity to 15 million tons per year from 14 million tons. In addition we predict favorable thermal coal price will continue next year,? said managing director Kim Sung Kook in an interview with Petromindo.Com.
Kim also said Kideco had just bagged 3-year contract to supply 600,000 tons of coal annually to South Korean utility firm to Korean Midland Power Company Ltd. (Komipo) with first shipment expected December.
Kideco is subsidiary of Sam Tan Co. of South Korea. (alex)