PTBA?s Q1 profit more than double
Coal sales slightly lower
Friday, April 29 2011 - 01:19 AM WIB
The company?s revenue increased 30 percent to Rp 2.32 trillion during the quarter as average selling price rose 35 percent to Rp 751,457 per tonne, compared to the same period of last year.
Coal production in the quarter reached 3 million tonnes, up by 16 percent from last year?s corresponding period, but sales volume was down by 4 percent to 3.1 million tonnes during the quarter thanks to decline in its trading unit's sales.
PTBA is still targeting to sell 16.8 million tonnes of coal this year, or 23 percent increase compared to last year?s coal output. PTBA said that it will boost coal production from its East Kalimantan coal unit PT International Prima Coal (IPC), increase coal trade volume and, along with state-owned railway PT Kereta Api Indonesia (KAI), increase coal transportation capacity to 13.6 million tonnes this year.
The company is also increasing the capacity of its ports, including the Kertapati port in South Sumatra, which is being expanded to be capable of handling 2.7 million tonnes of coal per year, and the Tarahan coal terminal in Lampung province, which is being expanded with throughput of 25 million tonnes per year.
The Tarahan coal terminal will be capable of receiving vessel with capacity of 150,000 DWT and Kertapai port with 80,000 DWT. Both projects are expected to be completed in 2013, the company said. (denny)