KPC eyeing Japan short-term contract
Thursday, February 19 2004 - 02:34 AM WIB
East Kalimantan coal producer PT Kaltim Prima Coal (KPC) said on Thursday it was negotiating with a Japanese consortium, which consists of Japan power utilities including Tohoku Electric and Tokyo Electric, to supply 4-5 million tons of coal.
“Negotiation is underway for a 1-year contract with first shipment scheduled for March,” said KPC president Ari S. Hudaya.
Ari said the deal was brokered by Mitsubishi Corp., which KPC had appointed as sole selling agent for the Japanese market.
KPC, which was acquired by JSX-listed Bumi Resources last year from Rio Tinto Plc and BP Plc., is seeking to increase export to Japan. Ari said in 2004, KPC plans to export around 35%-40% of KPC’s coal production - which is set at 26 million tons - to Japan.(godang)