JAKARTA (Yosefardi) – Coal producer PT Indika Energy Tbk (INDY) and China Railway Group Limited (CREC) had in October 3, 2013 signed principal agreement for developing coal mine and infrastructure in Papua and Central Kalimantan.
Both parties will cooporate in developing and consolidating coal reserves to be mined for supporting minimum production target of 10 million tons per year for each area.
They will also develop infrastructure for transporting mining products from related areas. The project will cost around US$6 billion.