Thiess wins new KPC contract<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Engineering and construction firm PT Thiess Contractors
\nIndonesia announced on Monday it has secured new mining contracts
\nworth US$1.2 billion, including a contract with coal mining giant
\nPT Kaltim Prima Coal (KPC).<\/p>\n
The new contract comes after Anglo-Australia mining giant Rio
\nTinto and Anglo-American energy firm BP Plc completed the sale of
\nKPC to local mining company PT Bumi Resources last week.<\/p>\n
\"This new long-term contract with KPC will increase our
\ncurrent operation at the mine to 12 million tons per annum, which
\nwill generate an additional $550 million in revenue for Thiess
\nIndonesia over the next five years,\" Thiess managing director
\nRoger Trundle said in a press release to The Jakarta Post.<\/p>\n
Thiess Indonesia, a subsidiary of Leighton Holdings Ltd, has
\nbeen providing services to KPC since 1989.<\/p>\n
Trundle said Thiess had also negotiated a two-year agreement
\nwith KPC to assist them in increasing production from the current
\n18 million tons per annum to 23 million tons per annum. The
\nagreement involves production planning, as well as management of
\nplants and equipment, he said.<\/p>\n
Leighton's financial arm, Leighton Financial International,
\nwill provide a $40 million loan to KPC. This amount is part of
\nthe $404 million loan from international lenders secured by Bumi
\nfor the acquisition of KPC.<\/p>\n
Apart from the contract with KPC, Thiess also extended its
\ncontract with coal mining company PT Arutmin -- also owned by
\nBumi -- for the operation of its Senakin and Satui mines. The
\ncontract will add $650 million to Thiess Indonesia's work-in-hand
\nover the next five years, Trundle said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/thiess-wins-new-kpc-contract-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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