Clough wins RI coal contract

Clough wins RI coal contract

SYDNEY (Dow Jones): Clough Ltd., an Australian engineering and
construction concern, said Wednesday it has won a A$215.5 million
coal mining contract in Indonesia from Indonesian miner PT
Gunungbayan Pratamacoal, or GBP.

The company said in a statement that the new contract will
take the group's total order book to A$1.2 billion, ahead of
budget and "well up" on the A$1 billion in the order book at the
start of the fiscal year ended June 30.

"It will significantly strengthen the Clough group's
operations in Indonesia by delivering base operating cash flows
and profitability for our subsidiary PT Petrosea Tbk which will
underpin its growth into the new millennium," said Clough
Managing Director Brian Hewitt.

Clough said the contract is for the period of 50 months, and
the work will be done in the East Kalimantan province.

The high-quality, low-sulfur coal mined at the site is mainly
sold by GBP for export into the Japanese market, Clough said.