PTBA sets up coal trading subsidiary
Thursday, April 26 2007 - 01:52 AM WIB
State coal miner PT Tambang Batubara Bukit Asam (PTBA) had set up its coal trading unit PT Bukit Asam Prima (BAP) to market its products.
Corporate Secretary of PTBA Eko Budhiwijayanto said in a statement that the new subsidiary will be engaged in purchasing, transporting, marketing of coal as well as other services related to coal trade.
The new firm is targeted to buy and sell 1 million tons of coal in the first year, Eko said.
PTBA recently announced that its sales increased by 13 percent to 2.65 million tons in the first quarter of the year, from 2.36 million tons in the year-ago period.
Previously, PTBA set up two subsidiaries, namely PT Batu Bara Bukit Kendi ad PT Bukit Pembangkit Innovative. The former is engaged in coal mining in Tanjung Enim, South Sumatra, while the latter is a consortium to build and operate a 2 x 100 M coal fired power plant in Lahat, South Sumatra. (*)