PLN acquires shipping firm to secure coal supply transportation

State-owned electricity company PT Perusahaan Listrik Negara (PLN) has received an approval from the government to acquire state-owned shipping company PT Bahtera Adiguna.

PLN will acquire 100 percent shares of the shipping company for about Rp 74 billion.

PLN?s vice president director Rudiantara said in Jakarta the government?s approval for the acquisition was given during the company?s recent shareholders meeting.

He said the acquired company was expected to be able to reduce PLN?s reliance on other shipping companies for shipment of coal supplies to the company.

In addition to acquiring a shipping company, PLN also plans to acquire two coal mining companies, one in Sumatra and another one in Kalimantan, in order to ensure certainty of its future coal supply

PLN is currently building 35 coal-fired plants in Java and outside Java as part of the company?s fast track program to provide additional power supply of 10,000 by 2010. (*)