THE BUSINESS TIMES
MEC Coal to feed Indian aluminium smelter
Edited by : AL CIRCLE
1 min read
National Aluminium Co, India's third-largest producer of the metal, said it agreed to buy coal from MEC Coal for its planned US$4 billion smelter and power plant in Indonesia. The state-run Indian company is also likely to acquire a 24 per cent stake in the Indonesian miner, National Aluminium chairman B L Bagra said in an interview.
MEC Coal, which owns mines in East Kalimantan province, will supply five million tonnes of the fuel every year, he said. MEC and Bumi Murau Coal were shortlisted as potential suppliers in December. National Aluminium plans to build a 500,000 tonne a year smelter and a coal-fired power plant in East Kalimantan on Borneo island in a joint venture.
Demand for the lightweight metal is rising in Indonesia, where the economy is forecast to grow 6.6 per cent this year, Bank Indonesia governor Darmin Nasution said yesterday.
MEC Coal, which owns mines in East Kalimantan province, will supply five million tonnes of the fuel every year, he said. MEC and Bumi Murau Coal were shortlisted as potential suppliers in December. National Aluminium plans to build a 500,000 tonne a year smelter and a coal-fired power plant in East Kalimantan on Borneo island in a joint venture.
Demand for the lightweight metal is rising in Indonesia, where the economy is forecast to grow 6.6 per cent this year, Bank Indonesia governor Darmin Nasution said yesterday.
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