As reported, the company’s wholly owned overseas investment arm PTT International is expected to invest with partners in a mine in Kalimantan.
Chitrapongse Kwangsukstith, chairman of PTT International, has been quoted by Reuters as saying: “We are in talks on the coal mine investment. It will be a joint investment to help our expansion.”
PTT plans to raise its coal output to nine million tonnes by the end of this year from 7-8 million tonnes last year. The company also plans to increase the output to 11-12 million tonnes in 2010 and to 20 million tonnes in next five years.
According to Tevin Vongvanick, PTT finance executive, the company aims to increase overseas revenue to 20% of group revenue from around 10% now under a five-year plan.
