PTBA Will Add Shares In The Coal Train Project 27 July 2011
Jakarta - PT Tambang Batubara Bukit Asam (Persero) Tbk or PTBA is still assessing an additional ownership of share by 20% in PT Bukit Asam Transpacific Railway (BATR). "Currently there is already a consultant that has been appointed, which is Pricewaterhouse Coopers. Currently, we are doing the feasibility," said PTBA's CEO Sukrisno in the State-Owned Enterprise.
BATR is a Coal Train Development project in Tanjung Enim, South Sumatra, heading to the new harbor in Lampung. The load capacity is targeted to reach 25 million tons per year with a distance of 307 kilometers. The EPC for the project has been signed on March 2010 with the value of US$1.3 billion.
Currently PTBA only owns 10 percent share for the project, while the other stockholders are China Railway Group Ltd as big as 10 percent and the Rajawali Group through PT Transpacific Railway Infrastructure at 80%. The additional ownership of the share is planned to be taken from Rajawali Group's share ownership in BATR. If the increase of share is executed, share ownership that PTBA owns is at 30 percent.
As for China Railway Group Ltd stays at 10 percent and Rajawali Group at 60 percent. "If not mistaken, this November is already ground breaking. Prior that, we hope that there would be a result already," Sukrisno added.
The fund that has been prepared by PTBA to increase the stock ownership is around US$320 million. The funding portion itself is targeted at 30 percent from internally and 70 percent from bankings.
Koran Tempo By Ivana Dewi