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Thursday, 04 February 10
PTT EYES OVERSEAS COAL
 Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal business to US$500-600 million by 2014.
Prospects for local business growth have dimmed due to environmental concerns, said Chitrapongse Kwangsukstith, acting president of PTT International.
The group has explored business opportunities in Madagascar and Brunei in addition to existing coal operations in Indonesia, he said.
The company has secured syndicated loans worth $380 million with Siam Commercial Bank, Krung Thai Bank, Bangkok Bank and Standard Chartered Bank to expand coal production in Indonesia.
Part of the loan will be used to refinance current debt to extend maturities to more than 10 years and reduce interest costs, he said.
"We are going to expand production in Indonesia to 11-12 million tonnes this year, up from last year's 9 million, and ramp up to 20 million tonnes in the next five years," he said.
Indonesian coal will be exported to Japan, Hong Kong and China, he said.
| "We are going to expand production in Indonesia to 11-12 million tons this year and ramp up to 20 million tons in the next five years" - Chitrapongse Kwangsukstith |
Investment in Indonesia will be made through Straits Asia Resources (SAR), of which the Singapore-listed parent is majority-owned by PTT Asia Pacific (PTTAPM). More than 60% controlled by PTT, PTTAPM has been granted a licence and is in the early exploration process for coal mines in Brunei and Madagascar.
"Currently, coal ventures generate a few million dollars of revenue a year. We are targeting net revenue for PTT of about $500-600 million annually, making coal one of PTT's core businesses, probably in the next five years," Mr Chitrapongse said.
"It is a shame that we cannot expand in Thailand because of the unresolved [Map Ta Phut legal] issue, so we are going to seek more business opportunities abroad."
PTT has 18 projects worth 93.5 billion baht, including its 28-billion-baht sixth gas-separation plant, among 64 projects in Map Ta Phut ordered by a court to suspend operations.
Analysts say that the coal business can generate better income for PTT than oil, given higher world reserves and rising demand. Globally, coal trade volume is expected to grow 3.2% this year, compared with a 1.2% increase in 2009, according to UOB Kay Hian.
Prices of thermal coal have also soared from an average of $72 per tonne last year to $99 at present, due to cold weather, it said.
The brokerage estimated that PTT's net profit in the final quarter of 2009 would be lower than in the third quarter, due mainly to lower earnings of PTT Exploration and Production. Refinery subsidiaries, such as Thai Oil Plc and PTT Aromatics and Refining Plc, are also expected to report weaker results from lower margins.
Shares of PTT closed yesterday on the SET at 225 baht, up six baht, in trade worth 1.29 billion baht.
Source: Bangkok Post
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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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