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Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST


PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chain, the company said in a statement.

Adaro did not identify companies being targeted for acquisition, but said negotiations were taking place and an announcement was planned in the coming weeks.

“As our coal mine is located quite far inland, it is imperative that we acquire direct control of inland waterway transportation and ship loading,” said Ah Hoo Chia, Adaro’s operations director.

“We already control a portion of the mining and overland transportation and own a port facility; now we can be completely linked from pit to port.”

The firm said it expected the acquisition value would not exceed $100 million and would be funded from existing cash and operating cash flows.

‘Now we can be completely linked from pit to port’ Ah Hoo Chia, operations director, PT Adaro Energy Tbk With the planned acquisition, the firm said it expected additional capital expenditure on top of the $120 million capital expenditure planned for this year. To read more The Jakarta Globe 



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Recent News

Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...


Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...


Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...


Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...


Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...


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