Coal investment declines<\/p>\n
JAKARTA (JP): The country's coal investors have pledged a
\ntotal investment of US$199.5 million for this calendar year, a
\nsharp fall from the realized investment of $287.9 million last
\nyear, according to a government official.<\/p>\n
The director general of mining at the Ministry of Mines and
\nEnergy, Rozik B. Soetjipto, said in a statement over the weekend
\nthat the government had issued coal contracts of work (COW) to
\n131 companies, of which 115 remain active despite the political
\nand economic turmoil.<\/p>\n
Five coal contractors have suspended operations for some time
\ndue to economic difficulties and another 11 coal contractors have
\ncompletely stopped.<\/p>\n
Nine of the 11 coal contractors decided to stop operations
\nafter failing to find enough coal deposits.<\/p>\n
One contractor stopped activities for security problems and
\nanother one had its contract revoked by the government on charges
\nof contractual violation.<\/p>\n
Rozik said the ministry was currently processing a total of 35
\napplicants for new coal COWs. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/coal-investment-declines-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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