Not Just Coal: PTBA Targets 20% of Revenue from Downstream Projects

PT Bukit Asam Tbk (PTBA) is targeting revenue contributions from its downstream and product diversification businesses to reach 20% over the next four years. The contribution from the non-coal sector will be pursued gradually.

PTBA’s Director of Downstreamisation and Product Diversification, Turino Yulianto, affirmed that the company is currently accelerating technical readiness and business schemes for several national strategic projects so they can swiftly deliver an impact on the company’s finances.

“We have set a target that within the next four years, the contribution from downstreamisation and diversification will be around 20% of the company’s total revenue,” said Turino at PTBA’s Public Expose, quoted on Tuesday (8/9/2026).

Turino explained that the current focus of downstreamisation is on projects to gasify coal into Dimethyl Ether (DME) and Synthetic Natural Gas (SNG). Physical work on both projects, which aim to reduce imports of Liquefied Petroleum Gas (LPG), is targeted to begin in 2027.

“For both projects, our offtaker partner is the Pertamina Group. The DME offtaker is Patra Niaga, while the SNG offtaker is PGN. God willing, construction will start next year,” he explained.

Beyond gasification, PTBA is expanding into the agricultural sector by producing potassium humate and broadening its renewable energy portfolio through the construction of Solar Power Plants (PLTS). The company’s total PLTS portfolio has now reached 1.2 Mega Watts (MW), utilising reclaimed former mining land.

Meanwhile, PTBA’s Director of Finance and Risk Management, Una Lindasari, added that the diversification is supported by the company’s strong financial performance in the first half of this year. She noted a significant surge in net profit driven by operational recovery and momentum from strengthening global coal prices.

“In the first half of 2026, PTBA recorded revenue of Rp22.03 trillion, up 8% year on year. The company’s net profit reached Rp2.65 trillion, growing 218% year on year,” Una said.

Una emphasised that this financial performance forms the foundation for the company to continue expanding its core business and fund new growth projects. The company remains committed to upholding the principle of prudence in every investment to ensure long-term business sustainability.

“Our principle is to build a healthy business with long-term prospects that delivers added value for both shareholders and stakeholders,” she concluded.