Bukit Asam Targets 30.3 Million Tons Of Coal Production This Year

Illustration. (Photo: Bukit Asam)

JAKARTA - PT Bukit Asam (Persero) Tbk targets coal production to reach 30.3 million tons this year. This figure grew 4 percent from the realization of Bukit Asam's coal production in 2019 which reached 29.1 million tons.

"The transportation target in 2020 is 27.5 million tons, an increase of 13 percent from the realization of rail transportation in 2019 of 24.2 million tons," said Bukit Asam Corporate Secretary, Hadis Surya Palapa in a written statement, Wednesday, June 10.

Meanwhile, Bukit Asam is targeting coal sales volume in 2020 to be 29.9 million tons, or a growth of 8 percent from 2019 sales realization, which is 24.7 million tons. Domestic coal sales this year are targeted at 21.7 million tons, while for export at 8.3 million tons.

Hadith revealed, as an effort to develop a downstream or coal processing business, Bukit Asam together with strategic partners (potential offtakers, potential investors and owners of coal gasification technology) had signed a number of cooperation agreement documents in 2019.

Then, in 2020 it will be continued with a more detailed engineering design stage to prepare for the construction of the Coal To Chemicals plant, after all pre-construction requirements have been met.

"This factory is targeted to start commercial production in 2025 with coal consumption of around six million tons per year for a minimum of 20 years," said Hadith.

Dividend Distribution

PT Bukit Asam Tbk's Annual General Meeting of Shareholders (AGMS) approved 90 percent of the 2019 net profit. This figure is equivalent to IDR 3.65 trillion and will be distributed as cash dividends from the issuer coded as PTBA shares.

In addition, the GMS also approved the Annual Report of the Board of Directors regarding the State and Operations of the Company during the 2019 Financial Year, as well as the ratification of the Annual Report including the Financial Report for the Partnership and Community Development Program for the 2019 Financial Year.

The results of the GMS stated that there were changes in the composition of the PTBA management, including appointing Hadith Surya Palapa as Director of Operations and Production replacing Suryo Eko Hadianto.

The GMS also approved the appointment of E Piterdono HZ, Carlo Brix Tewu and Irwandy Arif as Commissioners replacing Robert Heri, Taufik Madjid and Soenggoel Pardamean Sitorus. Meanwhile, Andi Pahril Pawi was appointed as an Independent Commissioner replacing Heru Setyobudi Suprayogo.