Triyani to invest $120 million in coal mine project

PT Triyani plans to invest about US$120 million to develop a coalmine in Musi Rawas, South Kalimantan in cooperation with an Australian company, Bisnis Indonesia reported on Monday.

Teddy Setiawan, the president director of the company, said that of the total investment, about US$2.64 million would be used for the early development of the open-pit coal-mining project.

He said that the company's mine concession has low-grade coal reserves of about 644 million tons. The coal to be produced would be mainly used for the fuel of a 600-MW steam power plant to be built at the mouth of the coal mine.

Teddy said that a feasibility study which is now being conducted by an Australian company is expected to be completed in 2005. The project will be commenced in 2006.

According to him, the power plant will be built with total cost of about $600 million as an integral part of the coal mining project. (*)