Kideco sign coal contract

Kideco sign coal contract

JAKARTA: Coal-mining company PT Kideco Jaya Agung said on Monday
it had signed a sales contract worth US$173 million with PT
Indonesia Power, a subsidiary of state-owned electricity company
PT PLN, to supply the latter with 6.5 million tons of coal
between 2002 and 2005.

Kideco said in statement the coal would be delivered to the
coal-fired Suralaya plant in West Java.

"With the new coal contract with Indonesia Power, Kideco
becomes one of the largest coal suppliers in the domestic market
with 3.8 million tons this year," the company said.

Kideco, which is majority owned by South Korean company Samtan
Co. Ltd., produced about 10.4 million tons of coal last year and
plans to produce about 11 million tons this year, some of which
will be exported. -- JP