NG Group targets 4 million output in 2013
Tuesday, July 3 2012 - 09:23 AM WIB
Indonesian coal miner PT Euro Asia Exports & Industries, a subsidiary of NG Group, is targeting to produce 4 million tons of coal from its four concessions in South Kalimantan after an initial production expected to start at the end of the year. The company currently has two operating concessions in South and East Kalimantan with an expected output of 500,000 tons this year.
"We have produced about 200,000 tons until the first semester of this year and most of the coal produced are exported to India," NG Group President Director Biju NG told Petromindo.com, adding that the group focuses on joint venture schemes in its 125,000 hectare concession in South Kalimantan, which coal has the calorific value of between 5,600 and 5,800 kcal/kg, and 200 hectare concession in East Kalimantan (6,100 - 6,300 kcal/kg).
In addition to the four concessions, the company is also in the process of acquiring a 10,000 hectare concession in Central Kalimantan, with coal cv between 4,700 and 5,100 kcal/kg and a startling 500 million tons of resource to cater to the rising Indian demand for low cv coal.
"Because we are also in a joint venture scheme with an Indian company who operates its own power plants, our sales contracts are long terms contracts with prices adjusted per six months. We also plan to expand our market segments to reach China and domestic market as the results of our elevating output," he said.
Editing by David Mustakim