PTBA says Suralaya coal price deal with Indonesia Power almost completed

State coal mining firm PT.Tambang Batubara Bukit Asam (PTBA) said on Wednesday negotiation with PT.Indonesia Power over 2008 coal supply price to the latter?s Suralaya 3,400-MW power plant is almost completed and deal is expected to be sealed by the end of January.

Head of Investor Relations Nurtimah Tobing told Petromindo.Com that PTBA is optimistic to get price increase of at least 25 percent out of the 28 percent increase it proposed earlier.

?Negotiation is now 80-90 percent completed,? she said, adding that PTBA might supply 5.1 million tonnes of coal to Suralaya this year.

At the start of negotiation PTBA proposed price increase to RP.485,000 or about US$53 per tonne CIF.

PTBA?s unaudited sales in 2007 was at 10.8 million tonnes with own production, pending final calculation, was about 9.25 million tonnes, Tobing said. (denny)