Reuters UPDATE 1-Indonesia's Adaro wins India, Thai coal contracts

JAKARTA, June 3 (Reuters) - Indonesia's largest coal producer by market value, PT Adaro Energy Tbk (ADRO.JK), said on Wednesday it has won contracts to sell up to a total of 6 million tonnes of coal per year to firms in India, Thailand and Indonesia.

Adaro, which has a market capitalisation of $4.28 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and Indonesian state electricity firm Perusahaan Listrik Negara (PLN).

Exports account for 70-72 percent of its sales.

"These are new coal-fired power plants actually starting up. One's in India, one's in Thailand, one's in Indonesia...Those contracts are from 1.5 millions to 2 million tonnes on each of those three contracts, so the maximum is 6 million tonnes," Adaro's marketing director, Alastair Grant, told reporters.

He said the first delivery for the contracts was expected in December and due to confidentiality agreements could not name the customers.

Adaro aims to produce 42-45 million tonnes of coal this year, up from 38.5 million tonnes in 2008, and aims to crank up production to 80 million tonnes per year in the next five years.

Grant said on Tuesday the firm was expecting to increase sales to China to about 3.5 million tonnes in 2009, compared with about 2 million tonnes last year.

With higher sales volume, Adaro has forecast double-digit growth in revenue and net profit this year. (Reporting by Tyagitya Silka; Writing by Andreas Ismar; Editing by Ed Davies)