Reswara Minergi secures $108 million coal sales contract
Wednesday, January 25 2012 - 02:47 AM WIB
A coal mining company PT Reswara Minergi Hartama, a subsidiary of PT ABM Investama Tbk has secured a coal sales contract worth US$108 million with India-based Subham Corporation Pvt Ltd.
President Director of Reswara Harry Asmar said that under the contract, a ton of coal with calorific value of 5,400 ? 5,600 ADB was priced between US$50 and $54.
?The price of coal contract would be reviewed every three months to be in line with the market price of coal,? he said as quoted by Bisnis Indonesia.
He said that the company?s subsidiary Tunas Inti would contribute some 4.5 million tones or 45 percent of the coal sales target this year.
ABM Investama President Director, Andi Djajanegara said that with the signing of coal sales contract, Subham would become a strategic partner for the ABM's subsidiaries Reswara and Tunas Inti. (*)