PTBA suffers slower growth of coal sales, production

Petromindo

IDX-listed coal giant PT Bukit Asam Tbk (PTBA) saw its coal sales volume last year increased by 4.85 percent to 20.10 million tons from 19.17 million tons in the previous year, Bisnis Indonesia reported on Saturday.

The growth in the coal sales volume, however, is slower than the annual growth rate of 7 percent registered in 2015, the paper said.

Meanwhile, coal production volume and coal purchase from other parties in 2016 totaled 20.89 million tons, a slight 0.9 percent increase compared to 20.7 million tons in 2015. Again, the growth rate is slower than the 14 percent growth booked in 2015.

PTBA Corporate Secretary Adib Ubaidillah said that the production and sales growth in 2016 was slower than the previous year due to delay in the completion of coal railway facilities in South Sumatra by state-owned railway operator PT Kereta Api Indonesia (KAI). ?It (production and sales growth) to improve this year,? he said.

PTBA initially set coal sales volume target of 29 million tons for 2016, but then revised the target to 23 million tons due to limited coal railway transportation capacity of KAI following delays in some projects.

PTBA initially set coal transport volume via railway in 2016 to jump by 50 percent to 23.7 million tons, but the realized coal transport via railway was estimated at only 19.1 million tons, or a 21 percent increase compared to 2015. (*)