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
Berita Terkait
Kejati menetapkan satu tersangka lagi kasus korupsi Dana Pensiun PTBA
Kamis, 25 April 2024 13:47 Wib
1.076 penumpang dari NTT tiba di Pelabuhan Makassar pada H+5 Lebaran
Selasa, 16 April 2024 6:13 Wib
DPD REI Sulsel hadirkan 43 stand tawarkan hunian terjangkau dan berkualitas
Kamis, 29 Februari 2024 15:23 Wib
PT BAN dan Bank Mandiri kerja sama penuhi kebutuhan perumahan
Jumat, 23 Februari 2024 20:43 Wib
PMI Makassar gandeng mitra perhotelan dan wisata untuk pengadaan darah
Selasa, 30 Januari 2024 7:07 Wib
Pakar: Hukuman mantan Kapolres Bukit Tinggi Dody Prawiranegara layak diperberat
Kamis, 11 Mei 2023 10:34 Wib
PM Benjamin Netanyahu hentikan pemukim Israel masuki Al-Aqsa hingga akhir Ramadan
Rabu, 12 April 2023 11:59 Wib
Puluhan Offroader asal Jawa jajal Bukit Maccayya Sidrap Sulsel
Minggu, 5 Maret 2023 5:25 Wib