JAKARTA (Indonesia Today) – PT Berau Coal Energy Tbk (BRAU), subsidiary of giant coal miner PT Bumi Resources Tbk (BUMI), cuts down its investment in power plant with capacity of 2×20 megawatts and overland conveyor to US$165-190 million from initial plan US$300 million, Investor Daily reported this morning.
John Ramos, BRAU’s director, said the investment is funded by global bond issue worth US$500 million.
Rosan Roeslani, president director of Berau Coal, said as of June 2012, the company produced 9.6 million tons of coal, compared to 9 million tons in the same period of 2011. He said the company targets to produce 21.5 million tons of coal this year.