May 6, 2012

Barito gives Thiess US$393 mio contract

PT Thiess Contractors Indonesia has been mandated a US$393 million contract by PT Tamtama Perkasa, a member of the Barito Pacific Group. The contractis for mining services in Muara Teweh, Central Kalimantan.
Under the new contract, Thiess Indonesia will provide mining services over a period of five years to support the delivery of 7.5 million metric tons of coal. Operations are expected to commence in the second semester of 2012.
"This contract award is in line with our strategy for continued growth in Indonesia. It is also recognition of Thiess Indonesia’s expertise as a leading mining services contractor," said Roy Olsen, President Director of Thiess Indonesia, in a press statement on Friday last week.
"The Barito Pacific Group is a diversified business, but one that is successful in everything they do and we are pleased to be in partnership with the group. The Tamtama project is only the beginning of a long-term collaboration with the Barito Pacific Group. We look forward to developing their mining business as well as a strong relationship with the group."
This contract is the second awarded to Thiess Indonesia for works in Central Kalimantan in the last couple of weeks.

Disclosure: No position at the stock mentioned above. 

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