The Jakarta Post | Business | Wed, March 27 2013, 1:04 PM
State-owned coal miner PT Bukit Asam (PTBA) and state electricity firm PT Perusahaan Listrik Negara (PLN) have signed a long term sales contract worth Rp 157 trillion (US$16.3 billion).
The deal, signed on Tuesday, will cover the sales of 262.6 million tons of coal from 2010 to 2030. PTBA corporate secretary Joko Pramono said that the deal was preceded by previous annual interim contracts that had resulted in around 3 million tons of deliveries.“PTBA will deliver 2.45 million tons to PLN in 2013. The deliveries will be increased gradually to 23.4 million tons a year in accordance with the progress of the first stage of PLN’s 10,000 megawatt power plant development projects,” Joko said.
Under the agreement, PTBA will supply coal with calorie contents of 4,900 kilocalorie per kilogram (kCal/kg), 4,700 kCal/kg and 4,200 kCal/kg, of which prices will be adjusted every year in accordance with the coal reference price (HBA) issued by the Energy and Mineral Resources Ministry.
With the PLN deal, PTBA has booked sales contracts of 537.5 million tons of coal.