Trubaindo seeks to supply coal to the Philippines

PT Trubaindo Coal Mining, a subsidiary of publicly listed coal firm PT Indo Tambangraya Megah (ITM), is eying a contract to supply coal to the power plant owned in Pagbialo by the Philippines state owned electricity firm National Power Corp (Napocor).

Trubaindo had submitted its bidding document. ?The tender is in progress. We are waiting for the result,? ITM?s Corporate Secretary Roslini Onwardi was quoted by Kontan as saying on Wednesday.

The firm has offered to supply two lots of coal, each amounting to 65,000 tons. The first lot will be shipped from Nov. 1 through Nov. 10, 2009 at the price of US$80.93 per ton. The second lot will be delivered from Dec. 1 through Dec. 30, 2009 at the price of $81.03 per ton.

Napocor?s tender head Edmon Anguluan has told Reuters that both offers from Trubaindo were in line with Napocor budget which sets the price of the coal at $81.08 per ton. The tender process will take four months.

Roslini said Trubaindo may produce up to 5 million tons of coal this year, accounting for 24.39 percent of ITM?s production target of 20.5 million tons this year. (*)