Local media reported that Adaro plans to acquire Bhakti Energy Persada (BEP); a coal mining company which belongs to one of its major shareholders’ Mr Teddy P. Rahmat. BEP has two mining concession in Kalimantan . 1) Located in Bulungan with 110m tons of resources which is expected to produce 700k tons this year before a ramp-up to 2m tons next year. 2) Green field project located in East Kalimantan with 5.6b tons of resources. BEP needs to spend up to US$400m until 2011 to build the mining infrastructure. Persada Capital Investama and Tri Putra Investindo own a combined 60% stake in BEP. Adaro’s management refused to comment on this matter.
In the meantime, Adaro is eyeing two independent power producer (IPP) projects worth US$2.5b. They are: 2x1000MW in Pemalang and 2x100 MW in South Kalimantan . Adaro would cooperate with several Japanese companies such as J-Power and Itochu Corp to bid for the project. Maintain Buy. TP Rp2,500.
Tidak ada komentar:
Posting Komentar