Petrosea secures 5-year mining contract from Kideco
Tuesday, October 26 2010 - 12:37 AM WIB
Indonesian listed energy firm PT Indika Energy announced Monday that its wholly-owned mining contractors unit PT Petrosea Tbk has secured 5-year mining contract value of US$200 million with East Kalimantan coal miner PT Kideco Jaya Agung.
?We are very pleased with this progress. This is a concrete development for Indika Energy as these two companies begin to derive synergy from each other?s capabilities and resources to tap the growth potential of the energy industry? said president director Arsjad Rasjid.
Indika owns 98.55% of Petrosea and 46% of Kideco. (denny)