Perdana Karya to acquire E. Kalimantan coal mine

PT Perdana Karya Perkasa, an IDX-listed company which is engaged in coal mining, oil and gas mining construction services, plans to acquire a coal mining concession in East Kalimantan later this year in a move to expand to the upstream sector.

The concession is estimated to hold 60 million tonnes of coal in reserve with calorific value of 5,800-5,600 cakl/kg (ADB). The acquisition may cost Rp 500 billion. ?The execution (of the acquisition) will most probably take place in the third quarter,? said Corporate Secretary Herry Priambodo as reported by Investor Daily on Tuesday. (*)