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Adaro Energy plans to buy 4 coal mining sites

JAKARTA: PT Adaro Energy Tbk, Indonesias second largest thermal coal producer, plans to buy four coal mining sites in Kalimantan and Sumatera this year, Investor Daily reported, citing Corporate Secretary Devindra Ratzarwin.The company did not give further

JAKARTA: PT Adaro Energy Tbk, Indonesias second largest thermal coal producer, plans to buy four coal mining sites in Kalimantan and Sumatera this year, Investor Daily reported, citing Corporate Secretary Devindra Ratzarwin.The company did not give further details about the total cost for such acquisition.Adaro estimated its coal output to reach 48 million tons this year, 13.7% increase from last year. The company posted 10 million ton coal output in a first quarter 2011.Adaro plans to disburse US$625 million to fund its capital expenditure. The company plans to use the budget to boost its output capacity.Meanwhile, the company allocated US$1.6 million to build biodiesel processing plan, Kontan reported, citing President Director Garibaldi Thohir.Adaro will co-operate with PT United Tractors Tbk and PT Komatsu in this project. The trial stage will last for one year. (msw)

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