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PTT subsidiary invests in new coal mine in Indonesia


PTT Plc’s subsidiary in Indonesia, Sakari Resources Ltd (SAR), has invested in a small coal mine in Indonesia that has 10 million tonnes of reserves.


PTT Plc’s chief operating officer for Upstream Petroleum and Gas Business group, Wirat Uanarumit, said recently that the move was aimed at securing its coal reserves for 10 years in Indonesia.
Meanwhile, the company is still studying its plan to seek a listing for its coal mine business on Indonesia’s stock market, he said.
Currently, PTT Plc holds a 94.56 per cent stake in SAR, which owns coal mines in Sebuku and Jembayan, a 35 per cent stake in a cold mine in Brunei, and an 80 per cent stake in a coal mine in Madagascar.

Published : August 12, 2019

By : The Nation