Berau to invest $300m to boost production
The Jakarta Post
The Jakarta Post
Publicly listed coal mining company PT Berau Coal Energy (BRAU) plans to invest between US$100 million and $300 million to increase production capacity and build a power plant.
'The money will be used to build a conveyor belt and power plant,' said the company's president director, Eko Santoso Budianto, after the closing of the Derawan Festival in Tanjung Redeb, East Kalimantan, on Friday, as quoted by Antara news agency.
The conveyor belt would be at its mining site, Binungan coal mine, said Eko. Meanwhile, the power plant would have two generator units each with a capacity of 20 megawatts, he added.
Berau Coal expects to produce 34 million tons of coal by 2017. Despite a decline in coal prices from $78 per ton to $60 per ton, the company would still execute the projects, Eko said. The company expects this year's production to reach 23.5 tons.
Eko believed that conditions would improve in the next two to three years. 'Thus, when the projects are done, [I] hope prices will be at equilibrium,' he said.
Berau Coal operates three mining sites - Lati, Binungan and Sambarata - all in East Kalimantan. The company's concession is around 118,400 hectares.
You might also like :
- Boeing ‘confident’ in 737 MAX safety despite aircraft flaw
- Pence says US to partner in Papua New Guinea military base
- Christian school rumor leads to closure of vocational academy in Batam
- US politician stands to win election by one vote
- Sexual harassment victim ordered to start prison sentence next week
- Here are 10 of the most populated cities in the world
- Number of missing in California fire soars past 1,000 as Trump set to visit
- CIA concludes Saudi Crown Prince behind Khashoggi murder: report
- Minister Wiranto's grandson drowns in garden pond
- After Gabo book purge, Kuwait bans Dostoyevsky