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Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
 The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside $100 million to finance its expansion plans, including a push to acquire a coal-mining plant in Kalimantan, a top executive said.
The company’s president director, Haryanto Adikusumo, said on Wednesday that AKR would also spend some of the funds that it raised from a sale in a plantation company to build roads and coal terminals in Kalimantan.
“This diversification aims to meet growing demand in Indonesia, India and China,’’ Haryanto said.
Jakarta-based AKR is also building a coal terminal at Kalimantan’s Timbau Bay to ferry coal to overseas markets like China, the president director added.
AKR’s coal sales are forecast to increase to 1.2 million tons in 2012 from around 200,000 tons this year. AKR already has a coal-mining plant in the area that started commercial operations in the middle of this year.
Haryanto said that AKR targets revenue to increase to Rp 18 trillion ($2 billion) this year from Rp 12 trillion in 2010. Its first-half revenue rose 74 percent to Rp 9.06 trillion from a year earlier. In the same period, its net income more than doubled to Rp 266 billion from Rp 94 billion.
AKR’s coal expansion is in line with moves by other Indonesian companies, such as vehicle distributor Astra International, that have announced massive expansion plans.
The acquisition of coal mining companies is a frequent choice, to benefit from the rising price of coal in the global market. Astra, the largest automotive retailer in Indonesia, has allocated $1.5 billion for investment, which includes the purchase of a coal miner next year.
AKR raised Rp 2.2 trillion from the sale of its stake in Sorini Agro Asia to agribusiness giant Cargill this year. Sorini is one of the world’s leading producers and suppliers of sorbitol and operates seven manufacturing facilities that are located in East Java and Lampung.
Shares of AKR rose 6.45 percent to Rp 62,475 on the Indonesia Stock Exchange on Thursday. The shares have risen 43 percent this year.
Source: The Jakarta Globe ( by: Faisal Maliki Baskoro)
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- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- VISA Power Limited - India
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