JAKARTA (Yosefardi) – Idemitsu Kosan Co Ltd boosted its ownership in coal producer PT Mitrabara Adiperdana Tbk (MBAP) to 30% from previous 12%.
Idemitsu purchased 220.9 million MBAP shares in November 11, 2014 at price of Rp1,300 per share.
While Wahana Sentosa Cemerlang took over 110.4 million MBAP shares from Baramulti Sugih Sentosa. Wahana Sentosa now holds 60% MBAP shares.
MBAP, through its subsidiary PT Baradinamika Mudasukses, joins force with state construction firm PT PP Tbk (PTPP) to build port facility infrastructure.
For this year, MBAP targets to produce 2.5 million tons of coal this year, and 4 million tons in 2015 and 2016.
MBAP is subsidiary of PT Baramulti Sugih Sentosa Group. MBAP has coal concession area in Malinau, North Kalimantan.