Hashim, Sukanto acquire Swabara<\/p>\n
JP\/afs<\/p>\n
JAKARTA (JP): Two leading Indonesian leading businessmen,
\nHashim Djojohadikusumo (second left) and Sukanto Tanoto (second
\nright), have combined to buy a controlling interest in Swabara
\nGroup from Australia's Washington H. Soul Pattinson Ltd and its
\nsubsidiary New Hope Corporation Ltd.<\/p>\n
The acquisition was signed yesterday by the chairman of
\nTirtamas group, Hashim, the chairman of Raja Garuda Mas group,
\nSukanto, the chairman of New Hope Corp, James S. Millner (left)
\nand the chairman of Swabara group Greame Robertson (right).<\/p>\n
They did not say how much the stake cost.<\/p>\n
Swabara, which was set up in 1985, operates in mining, ports,
\ninfrastructure and power generation.<\/p>\n
Swabara holds interests in PT Adaro Indonesia, a major open
\npit coal mine in South Kalimantan with annual production of 11
\nmillion tons, and PT Multi Harapan Utama, an open pit coal mine
\nin East Kalimantan with annual production of two million tons.<\/p>\n
Swabara also has an interest in the Paiton Energy Company,
\nwhich is building a 1,230 Megawatt coal-fired power station in
\nEast Java.<\/p>\n
Swabara's subsidiary, PT Bulk Terminal Indonesia, is building
\na major deep water bulk port project on the Laut island southeast
\nof Kalimantan.<\/p>\n
The port, which is scheduled to be finished in August, will be
\none the largest bulk ports in Southeast Asia.<\/p>\n
Swabara's new shareholders plan to increase production at
\nAdaro's coal mine in South Kalimantan to 20 million tons a year
\nby 2000, making it one of the world's biggest coal mines.<\/p>\n
Adaro will supply the Paiton power station.<\/p>\n
\"We are set to develop Swabara into Asia's largest coal mining
\nand energy corporation,\" Hashim said.<\/p>\n
New Hope will remain a Swabara partner through its 50 percent
\nstake in Adaro's coal mine and Bulk Terminal's port project.<\/p>\n
New Hope will also liaise with Swabara to develop coal mining
\nin Australia. (jsk)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hashim-sukanto-acquire-swabara-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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