Bukit Asam (PTBA), through its subsidiary Bukit Asam Transpacific Railway (BATR) signed engineering, procurement and construction and operations and maintenance contracts with China Group Ltd. worth US$4.8bn last month. The aforesaid Tanjung Enim - Lampung railway project will have a railway coal transport capacity of 25 mn tons, and provides 50% IRR for PTBA. BATR is a JV between PTBA (10%), Transpacific Railway Infrastructure (80%) – owned by Prajogo Pangestu from Barito Pacific – and China Railway Engineering Corp (10%).
Sales comment: The Chinese seem to be very active in making mining and infrastructure investments today.
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