Wika calls off coal supply deal with Chinese firm
Saturday, May 28 2011 - 02:23 AM WIB
IDX-listed firm PT Wijaya Karya (Persero) Tbk (Wika) reported that its coal trading unit PT Wika Intrade Energi (WIE) has dropped coal supply deal with Chinese firm STIG Jangshu Light and Textile Imp.& Exp.Co.,Ltd.
Wika CEO Bintang Perbowo said on Friday that the deal was called off due to ?disagreement over pricing?. He did not give further detail.
According to Bintang, WIE has conducted trial shipment in November last year.
Under the deal Wika would initially supply 2-2.5 million tones of coal to the company, gradually ramping up to 5 million per annum. (giok)