Petrosea bags $200m contract from E. Kalimantan coal miner

IDX-listed mining contractor PT Petrosea Tbk said on Monday it had secured US$200 million new mining contract from East Kalimantan coal mining firm PT Adimitra Baratama Nusantara.

Under the contract, which is set to commence in August this year, Petrosea will load and haul 14 million tonnes of coal and 126 million bcm of overburden over the 5-year contract period.

The contract agreement will see Petrosea commit to US$44 million of capital investment in new plants over the next five years as well as utilising plants and equipments coming free from other projects, the company said.(alex)