JAKARTA, May 3, 2011 - PT AKR Corporindo, Tbk. (Bloomberg: AKRA IJ), Indonesia’s leading bulk logistics and infrastructure company and largest private sector distributor of petroleum and basic chemicals, announced that the Company’s coal concessions in Barito Utara, Central Kalimantan are ready for production with the receipt of required approvals from the Governmental authorities and appointment of contractors.
AKRA’s subsidiary PT Bumi Karunia Pertiwi, holder of the mining concession has formally secured Ijin Pinjam Pakai (Borrow and Use License) from Ministry of Forestry, Republic of Indonesia dated April 29, 2011, Operation and Production IUP – (Operation and Production Mining License) and other permits to operate Coal Port terminal.
The Company also announced that it has appointed PT Karunia Bumi Khatulistiwa, an experienced coal mining contractor, to conduct the mining activities who have commenced
AKRA’s subsidiary PT Bumi Karunia Pertiwi, holder of the mining concession has formally secured Ijin Pinjam Pakai (Borrow and Use License) from Ministry of Forestry, Republic of Indonesia dated April 29, 2011, Operation and Production IUP – (Operation and Production Mining License) and other permits to operate Coal Port terminal.
The Company also announced that it has appointed PT Karunia Bumi Khatulistiwa, an experienced coal mining contractor, to conduct the mining activities who have commenced
preparation and mobilization to start coal mining activities. In order to facilitate coal movement, it has also secured hauling road and other supporting facilities.
With the receipt of the necessary licenses, the Company expects to commence mining
activities in the coming weeks.
AKRA’s is also developing coal terminal facilities at Buntok Baru port, on the banks of Barito River, Central Kalimantan, comprising of 38 hectare terminal with barge loading conveyer
capacity of 1,000 MT coal per hour. The facilities which are in the final stages of development will support the movement and distribution of coal to domestic and overseas customers.
Mr Haryanto Adikoesoemo, President Director, commenting on the development said, “The
business expansion in coal mining and coal logistics is a positive development for AKRA.
AKRA has within the span of 18 months, completed all necessary procedures and approvals, required to exploit the coal concessions that it acquired in late 2009. This expansion is part of Company’s focus on energy, and development of logistics infrastructure to support coal mining
activities. ”
“AKRA believes that coal mining and coal logistics business has a good prospect in Indonesia,
supported by rising demand for coal globally. We are also exploring opportunities to invest in
coal logistics infrastructure in Kalimantan to synergize our distribution and logistics
capabilities”, Haryanto said.
source; AKR company