Thai firm to mine RI coal

Tue, 04 Jun 1996, 00:00 WIB | Source: REUTERS

BANGKOK (Reuter): Thai mining firm Lanna Lignite Plc said
yesterday it has signed a joint venture with companies from
Singapore and Indonesia to mine coal in Indonesia.

Lanna said in a filing to the Stock Exchange of Thailand that
it signed the agreement with Indonesia's P.T. Harita Mahakam
Mining Co. and Singapore's Pan-United Corporation Ltd. on Friday.

Lanna said it expected investment of $16 million, half from
shareholders' equity and half from loans, in the project.

The joint venture is capitalized at $8 million with Lanna
holding a 55 percent stake, the Indonesian firm 35 percent and
the Singapore firm 10 percent, Lanna said.

View JSON | Print