Siam Cement eyeing Indonesian coal mining venture

SCT Co., a distribution unit of Thailand's Siam Cement PCL, plans to buy a majority stake in, or start a joint venture with an Indonesian coal mine next year, The Nation daily reports.

The move is part of the company's plan to diversify into energy-related businesses, and is intended to help the company meet its revenue target, says the report, quoting SCT Managing Director Kalin Sarasin.

With oil prices reaching record highs this year, Thailand's domestic demand for coal is expected to rise to 15.4 million tons by 2009, compared with 10 million tons at present - 90% of which is imported, as industrial users seek alternatives to oil.(*)