PTBA delays coal mining talks with China?s CNTIEC
Wednesday, July 16 2003 - 02:30 AM WIB
State owned coal producer PT Batubara Bukit Asam (PTBA) has delayed its plan to negotiate a possible cooperation with Chinese company China National Technology Import Export Corporation (CNTIEC) on the development of the Ombilin coal mining site until early August, Bisnis Indonesia reported on Wednesday.
PTBA?s corporate secretary Milawarman said in Jakarta on Tuesday that the talks which were initially scheduled to be held this week had been postponed because the company?s board of executives would visit Australia to hold business talks with the company?s partners in the neighboring country.
Milawarman said last week that PTBA and CNTIEC would resume their negotiations over the two companies? plan to cooperate in the development of an underground coal mine in Ombilin, West Sumatra.
The Chinese company is expected to finance the underground coal mining project which is estimated to cost about US$62 million to develop. (*)