Boosting Coal Production, IATA Adds New Contractor

 

PT Bhakti Coal Resources (BCR), a company in the process of being acquired by PT Indonesia Transport & Infrastructure Tbk (IATA) appointed PT Darma Henwa Tbk and PT MNC Infrastruktur Utama (MIU) as twonewcontractors.The contractor mines and increases coal production under BCR’s mining business permit (IUP).

Prior toDarma Henwa and MIU, three contractors had been employed under BCR’s IUP, namely PT Bara Permata Mining, PT Cipta Bersama Sukses, and PT Universal Support.

Head of Investor Relations of PTIndonesia Transport & InfrastructureTbk, Natassha Yunita said, the additional appointment was to meet the production target of PT Putra Muba Coal (PMC), PT Bhumi Sriwijaya Perdana Coal (BSPC), PT Indonesia Batu Prima Energi (IBPE), and PT. Arthaco Prima Energi (APE) from 2.5 million metric tons (MT) in 2021 to 8 million MT in 2022.

“Until the end of 2021, BCR’s revenue is estimated to reach USD 74.8 million with an EBITDA of USD 33 million,” he said in the IDX information disclosure, quoted Tuesday (14/12/2021).

Earlier this month, IATA signed a Sale and Purchase Agreement (PPJB) with PT MNC Investama Tbk (BHIT) to acquire 99.33 percent of BCR’s shares.

The transaction value of USD 140 million is 23 percent lower than the valuation of BSPC and PMC which reached USD 181.9 million.BCR has 9 IUPs in Musi Banyuasin, South Sumatra, including:

– BSPC and PMC that are already in operation, produce coal with a GAR range of 2,800 3,600 kcal/kg.BSPC has an estimated total resource of 130.7 million MT, while PMC has 76.9 million MT, with estimated total reserves of 83.3 million MT and 54.8 million MT, respectively.

– IBPE and APE will startcoal productionin 2022. PT Energi Inti Bara Pratama (EIBP), PT Sriwijaya Energi Persada (SEP), PT Titan Prawira Sriwijaya (TPS), PT Primaraya Energi (PE), and PT Putra Mandiri Coal ( PUMCO) will be operational in a year or two from now.These seven IUPs have an estimated total resource of more than 1.4 billion MT.

Source: https://www.liputan6.com/saham/read/4745210/genjot-produksi-batu-bara-iata-tambah-kontraktor-baru