Toba Bara sees flat coal output next year
Wednesday, December 21 2016 - 02:55 AM WIB
Petromindo
IDX-listed coal mining firm PT Toba Bara Sejahtra Tbk said that coal production next year will be likely around six million tons, or relatively flat compared to this year?s target of 5-7 million tons.
?Toba?s production will be flat (next year), following industry (trend),? said Pandu Sjahrir, Director of Toba to Petromindo.com on Tuesday.
Toba has earlier set production target of 5-7 million tons for this year. In the first nine months of this year, output has reached 4.2 million tons.
The company currently has four operating subsidiaries, three in coal mining namely PT Adimitra Baratama Nusantara (ABN), PT Indomining (IM), and PT Trisensa Mineral Utama (TMU) located in East Kalimantan.
Pandu said that Toba next year will continue to focus on developing power plant projects as part of diversification strategy as the company aims the electricity business to account for about half of future revenue.
Pandu said that Toba will continue to increase investment in power plant development over the next 2-3 years. He said the company is planning to develop a 100 MW power plant project in North Sulawesi, and seeks to expand its power plant portfolio. ?Currently, there is one being processed in Sulawesi, we?re waiting for PLN,? he said, referring to the state-owned electricity firm PT PLN, but did not provide further details.
Editing by Reiner Simanjuntak