May 4, 2011

AKR names Karunia as coal contractor

PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North Barito, South Kalimantan. The mine is expected to produce 300,000 tons this year.
AKR’s President Director Haryanto Adikoesoemo stated his optimism that, due to world’s high demand, mining and coal logistics business have a bright prospect.
“The expansion is part of our business target in energy and logistic infrastructure development sector,” he said in a press release yesterday as quoted by Bisnis Indonesia daily today.
The company acquired the concession at end of 2009 through its subsidiary PT Bumi Karunia Pertiwi. AKR is currently working on constructing coal terminal facility in Buntok Baru, Center Kalimantan that could accommodate 1,000 metric tons/hour barge loading conveyor.
“It is expected to run in the next 2-3 weeks. All investment requirements will be handed over to contractor.”

Disclosure: No position at the stock mentioned above.  

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