Indonesia's state-owned coal company, Bukit Asam (Perusahaan Tambang Batubara Bukit Asam), expects its net profit to increase about 50% this year.
“As coal production and prices increase, I believe that we can earn a net profit of more than Rp 3 trillion ($348 million) this year,” its President Director, Sukrisno, said at the hearing at House of Representatives Commission VII, which oversees energy affairs.
Bukit Asam’s coal production is projected to increase 34% to 17.6 Mt year, he said. To meet rising production, Bukit Asam expects state-owned railway company Kereta Api Indonesia to upgrade the capacity of its existing coal railway in Sumatra this year to transport 22.7 Mt/y.
“As coal production and prices increase, I believe that we can earn a net profit of more than Rp 3 trillion ($348 million) this year,” its President Director, Sukrisno, said at the hearing at House of Representatives Commission VII, which oversees energy affairs.
Bukit Asam’s coal production is projected to increase 34% to 17.6 Mt year, he said. To meet rising production, Bukit Asam expects state-owned railway company Kereta Api Indonesia to upgrade the capacity of its existing coal railway in Sumatra this year to transport 22.7 Mt/y.