PTT plans biomass plant, more coal investments in Indonesia
PTT is to invest US$3 million to $4 million (Bt90 million-Bt120 million) in a biomass power plant with capacity of not more than 10 megawatts in Indonesia, and is seeking an opportunity to invest in coal mines in the country, said Chitrapong Kwangsuksathi
The biomass power plant would initially generate electricity for nearby communities, he said, adding that investing in the power business in Indonesia is part of the company's strategic plan to diversify from the oil and gas business.
As PTT's plans to invest in power plants in the region involves mainly coal-fired plants, it has to look for opportunities to invest in coal mines as well, Chitrapong said.
Natthachart Charuchinda, executive vice president, said the company has investments in two coal mines in Indonesia, and is negotiating with additional mines near the existing ones. However, many players are attempting to acquire the same mines, so it is difficult to win the deals, he said.
"It is taking longer than expected to finalise the deals," he said.
Natthachart said earlier that PTT aimed to conclude two or three coal mine deals this year.
