Large coal terminal to be built in S. Kalimantan
JAKARTA (JP): PT Indonesia Bulk Terminal (IBT) signed here yesterday agreements for US$80 million in secured loans from National Australia Bank Ltd. and Banque National de Paris for financing a 10 million-ton capacity coal terminal at Pulau Laut, South Kalimantan, and the construction of the terminal.
The contract for the first stage of construction of the terminal, which is scheduled to start operations in 1997, was awarded on a turnkey basis to Bilfinger & Berger of Germany.
"The Pulau Laut coal terminal will provide coal mines with an international standard handling facility to ensure efficient and reliable delivery of coal to consumers," noted Hashim S. Djojohadikusumo, chief commissioner of IBT at the contract signing.
IBT is a joint venture company between Consolidated Bulk Handling Pty. Ltd of Australia with 50 percent and three Indonesian companies-- PT Tritamas Majutama, PT Swabara Bumi and PT Dermaga Batu Perkasa.
Tirtamas, which is controlled by Hashim, a son of senior economist Sumitro Djojohadikusumo, is the major shareholder in PT Semen Cibinong and a shareholder in PT Adaro Indonesia, a major coal producer in South Kalimantan.
Swabara is a shareholder in PT Multi Harapan Utama, a coal producer in East Kalimantan and PT Adaro Indonesia, while PT Dermaga is a subsidiary of PT Catur Yasa which is a shareholder in the Paiton coal-fired power project in East Java.
Subsidiary
Consolidated Bulk Handling is a wholly-owned subsidiary of New Hope Corp. Ltd., a diversified Australian mining and resources group.
After completion of the first stage of development, the Pulau Laut terminal will offer bulk handling of coal, coal blending and stockpiling, quality control and pooling or partial loading services for smaller mine operators.
The port will have a loading berth capable of serving vessels of up to 100,000 deadweight tons and another one, to be developed in the second stage, with the capacity to berth vessels of up to 200,000 dead weight tons.
IBT's president Graeme Robertson noted that the terminal has a bright future as the demand growth for steam coal in Asia over the next 10 to 15 years will be huge and more than 70 percent of the coal demand will be for fueling new power generating stations.
Another benefit of the terminal is that it also will handle other bulk commodities, thereby contributing to the growth of regional economic development in the eastern provinces.
IBT will operate the terminal under a build, operate and transfer agreement with state-owned PT Pelabuhan Indonesia III, for a period of 30 years subject to two 10-year extensions.
The first major customer of the terminal will be PT Adaro itself which is being developed to become the largest coal mining operation in Indonesia. Its annual production capacity of 7.5 million tons is being expanded to reach 20 million tons by the year 2000.(vin)