Thai coal miner seeks expansion in Indonesia
Saturday, March 31 2001 - 07:30 AM WIB
Thai coal miner Lanna Lignite Plc said Friday it planned to expand to Indonesia due to decline in domestic coal reserve, according to Reuters.
Lanna CEO Visit Tantisunthorn was quoted by Reuters as saying the company planned to spend US$11.1 million this year, a portion of which was allocated for expansion to Indonesia.
Lanna is Thai's second biggest coal miner.
Visit said Lanna was negotiating with potential partners to secure coal reserves and expected to conclude a deal in the next few months.
Lanna is the 55 percent owner of PT Lanna Harita Indonesia, a coal company at exploration and pre-production stage in East Kalimantan.
Lanna said its Indonesian subsidiary expected to commence production in mid-2001. (alex)