PHI plans for acquisitions
Tuesday, September 25 2012 - 05:12 AM WIB
By Er Audy Zandri
Las Vegas based PHI Group recently stated to have evaluated 12 concessions in East and Central Kalimantan for acquisitions.
"We are eying three concessions in East Kalimantan which already have Operation Production IUP," the company CEO Henry D. Fahman told Petromindo.com without disclosing the details.
Finalization of the acquisition should come about next month. "I will need to come back to sign a couple of documents," he said.
Established since 1982, the NASDAQ listed group stated it plans to acquire coal mines in Indonesia to support its up to 6000MW power plant projects in Vietnam.
Editing by David Mustakim