JAKARTA (Yosefardi) – Coal producer Atlas Resources (ARII) has secured coal sale contract of Rp1.05 trillion from state utility PT Perusahaan Listrik Negara (PLN).
The company will supply 1.75 million tons of coal for 5 coal fired power plants operated by PLN. It allocates capex of US$10 million for next year, compared to US$25 million for this year.
ARII booked revenue of US$88 million in first nine months of this year and suffered loss of US$12.19 million. Its assets totaled US$330.36 million while liability amounted US$196 million.