JAKARTA: Small coal-trading company PT Central Korporindo International Tbk. (Cenko) has set aside Rp 110 billion (US$12 million) for the purchase of coal and Rp 50 billion more for the completion of its coal-fired power plant at Pangkalan Bun, Central Kalimantan.
The power project, which is now 85.8 percent completed, will start operating in mid-2008, and have a capacity of 14 megawatts (MW), president director Erry Indriyana said Monday.
Besides the Pangkalan Bun project, Cenko is also constructing two other power plants, one in Rengat and one in Tembilahan, both in Riau province, and each with a capacity of 14 MW.
The plants, whose construction is 50 percent complete, are expected to commence operations in 2009.
"Although we intend to focus our business on steam-power plants, to date 100 percent of our revenue still comes from coal trading," said Erry.
Last year, Cenko earned Rp 265 billion in total revenue from the sale of 820,000 tons of coal, giving the firm a profit of Rp 1.5 billion. Only 10 percent of the coal came from the company's own 700-hectare open-pit mine in Asam Asam, South Kalimantan. (07