PTBA eyes new Asian markets

IDX-listed coal giant PT Bukit Asam Tbk (PTBA) is looking into the possibility of exporting coal to new markets in Asia in light of the current rising trend in the price of the commodity.

Bisnis Indonesia quoted PTBA Corporate Secretary Adib Ubaidillah as saying Friday that new Asian markets continue to be potential market for the company, aside from its traditional key export market of Japan.

?Countries which continue to offer potential market are India, Taiwan, China, Malaysia, the Philippines, Vietnam, Sri Lanka, Bangladesh, and Pakistan,? he told the paper.

Adib said that PTBA has yet to enter the Philippines, Sri Lanka, Bangladesh and Pakistan markets as prices there are still lower than the prices in other markets. He said that PTBA will start entering the four potential markets when prices there improve to around the same level at its existing export markets. ?We?ll enter the markets when prices there improve,? he said.

Adib reiterated that PTBA plans to produce a total of 25.75 million tons of coal this year, up 34 percent from last year?s 19.24 million tons. As per August of this year, output had reached 11.3 million tons, or about 44 percent of the full-year target.

The company?s sales target for this year has been set at 29.17 million tons, up compared to 19.17 million tons last year. (*)