Petrosea gets $100m contract<\/p>\n
Publicly listed firm PT Petrosea, a local unit of Australian
\nlisted engineering and construction company Clough Limited, has
\nsecured a US$100 million contract to mine coal in Kalimantan.<\/p>\n
In its report to the Australian Stock Exchange on Tuesday,
\nClough said the four-year contract was awarded by Indonesian coal
\ncompany PT Mitra Internusa Persada to perform mining activities
\nat the Sanga Sanga concession near Samarinda, East Kalimantan.<\/p>\n
\"Sanga Sanga was selected from a number of mining
\nopportunities due to the coal quality, contract terms available
\nand its proximity to existing Petrosea mining projects,\" said
\nClough chief executive officer David Singleton.<\/p>\n
Petrosea's Tanjung Batu supply base in Balikpapan, East
\nKalimantan was well developed and equipped to support the
\nactivities, added Singleton.<\/p>\n
Under the contract, up to $10 million will be progressively
\ninvested in new plant over a four-year period.<\/p>\n
As of last year, Petrosea has added mining activities in
\nexcess of A$350 million to its order book.<\/p>\n
Clough holds an 82.2 percent interest in Petrosea, while the
\nremaining is held by public investors. Petrosea has been
\noperating in Indonesia since 1972.<\/p>\n
The country's largest coal producer PT Kaltim Prima Coal is
\nalso mining coal in the province. -- JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/petrosea-gets-100m-contract-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}