Bumi may invest in India terminal

Tue, 07 Dec 2004 | Source: AP

JAKARTA: PT Bumi Resources, Indonesia's biggest coal exporter, may invest in a coal receiving terminal in India to help its sales to the country, Ari S. Hudaya, Bumi's president, said in an interview in Jakarta.

"We need a receiving terminal that can take our coal there and distribute it to the local market," Hudaya said in a phone interview on Dec. 3. "India is a big future market for coal."

Bumi wants to benefit from higher coal prices by increasing its exports to India whose imports of the fuel are expected to rise to between 10 million and 13 million tons next year compared with an estimated 6 million tons this year. Nineteen new power plants are being built in India, R.V. Shahi, secretary to India's ministry of power said in October. -- Bloomberg

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