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