Aug 9, 2011

Ancora secures US$75 mio contracts

PT Ancora Indonesia Resources Tbk, through its subsidiary dubbed PT Multi Nitrotama Kimia, has secured a US$75 million contract in 3 years from coal miner PT Adaro Indonesia.
Multi Nitrotama will provide mining explosives to Adaro, including explosion services and accessories. Multi Nitrotama is underwat to construct explosive production facility namely MNK-2 with 4 folds higher production capacity to 140,000 tons from 37,000 tons annually.
Disclosure: No position at the stock mentioned above.  

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