Through the investment, the company intents to acquire coal mines and purchase more ships to reinforce its position in coal trading in the country.
Ahmed A R Buhari, president, director and CEO of C&O Group, told Jakarta Post: “We see Indonesia, as a major producer of coal, as the right place to invest.”
According to the company, the coal mine,whether in Sumatra or Kalimantan, is expected to have a production capacity of at least five million tons per year.
The group will use the coal to fire its Coastal Energen power plant in India that will start its operation in 2012. The plant will have a total generation capacity of 2,400MW.
As reported, the company will import 70% of the coal from Indonesia and the rest from Australia and South Africa.
