Makassar, South Sulawesi (ANTARA Sulsel) - State-owned coal miner PT. Bukit Asam said it will start beneficiation to produce gas, and crude oil from coal and building coal fired power plants.
Coal beneficiation is an initiative for innovation that the company could go through slump that hit coal market, said company`s finance director Achmad Sudarto here on Friday.
Coal price has dropped in the world market lately causing financial problem for many coal producers in the country.
The slump is feared to continue until next year with shrinking imports from China, the world`s largest consumer of coal.
China`s coal imports fell as a result of that country`s policy of reducing carbon gas emission.
Achmad said despite coal price fall, good performance of the publicly listed company has prevented its share price from shrinking..
"Currently the price of our shares is Rp13,300 each and with coal beneficiation we are launching, the share price is expected to double in the next three years," he said.
He said when the shares of other coal mining companies are falling, the share price of PT Bukit Asam even increased as investors see the prospect in the years to come.
"We are no longer seen as purely a coal producer but has become an energy company," he added.
Currently PT Bukit Asam has three power plants in operation and two more units in the process of tender.
The two new power plants would be built in Peranap, Riau, and Muara Enim of South Sumatra, Achmad said.
With the construction of a number of power plants, PT. Bukit Asam would be a long term supplier of energy in the country, he added. .
Bukit Asam is one of the country`s major coal producers producing more than 16 million tons of coal a year from its Tanjung Enim mine in South Sumatra.
It also has built rail tracts to facilitate the transport of its coal to seaports in Lampung and Palembang for shipments especially to Java.
It has supplied coal to fuel power plants of the state power utility company PLN in Java.
Penerjemah : O Tamindael
Coal beneficiation is an initiative for innovation that the company could go through slump that hit coal market, said company`s finance director Achmad Sudarto here on Friday.
Coal price has dropped in the world market lately causing financial problem for many coal producers in the country.
The slump is feared to continue until next year with shrinking imports from China, the world`s largest consumer of coal.
China`s coal imports fell as a result of that country`s policy of reducing carbon gas emission.
Achmad said despite coal price fall, good performance of the publicly listed company has prevented its share price from shrinking..
"Currently the price of our shares is Rp13,300 each and with coal beneficiation we are launching, the share price is expected to double in the next three years," he said.
He said when the shares of other coal mining companies are falling, the share price of PT Bukit Asam even increased as investors see the prospect in the years to come.
"We are no longer seen as purely a coal producer but has become an energy company," he added.
Currently PT Bukit Asam has three power plants in operation and two more units in the process of tender.
The two new power plants would be built in Peranap, Riau, and Muara Enim of South Sumatra, Achmad said.
With the construction of a number of power plants, PT. Bukit Asam would be a long term supplier of energy in the country, he added. .
Bukit Asam is one of the country`s major coal producers producing more than 16 million tons of coal a year from its Tanjung Enim mine in South Sumatra.
It also has built rail tracts to facilitate the transport of its coal to seaports in Lampung and Palembang for shipments especially to Java.
It has supplied coal to fuel power plants of the state power utility company PLN in Java.
Penerjemah : O Tamindael