Trimex plans acquisition, looks for coal
Wednesday, January 30 2013 - 01:47 AM WIB
MEC Coal, the coal mining unit of MEC Holdings, a subsidiary of Dubai based multifaceted Trimex Group, recently stated it eyes another concession in East Kalimantan.
"We are in the process of acquiring another concession near our coal mine in Muara Wahau," a source in the company told Petromindo.com, without leaking further detail.
He nevertheless stated that the mine's CV roughly fall between 3,200 - 4,200 kcal/kg (GAR).
"We're always looking for coal with those specifications, including purchasing coal with those specification from producers," the source said, adding that China and mostly India are its largest markets.
MEC's coal mine in Muara Wahau, run by Indonesian subsidiary PT Tekno Orbit Persada, is stated to have up to 2 billion tons of resource, in which the company is linking the 130km distance from mine to a planned US$250 million worth of new port at Bengalon with an ambitious private rail line project at roughly S$1 billion worth of investment. It is also partnering with Indian based National Aluminum Co. (NALCO) to construct 1,400MW power plant at the investment of US$1.5 billion. Together with NALCO, it also stated to invest up to US$2 billion more to build an aluminum smelting facility at the annual capacity of 500,000 tons.
"Everything is on schedule," the source said when asked about the progress of these projects.
Editing by David Mustakim