Indonesia Bukit Asam & China Railways sign $4.8 bln deal

Indonesian state-owned coal miner, PT Tambang Batubara Bukit Asam Tbk (PTBA.JK) reported that the company has signed contracts for a total of $4.8 billion for a new rail project to transport its coal to a port in Sumatra.

The press release is quoted as saying:

The Sumatra railway, due to be completed in four years, will significantly increase Bukit Asam’s coal transport capacity. Bukit Asam shares ended up 4.59 percent at 17,100 rupiah on Thursday following the news.

Click here to access the entire press release

Click here to access PT Tambang Batubara Bukit Asam Corporate Site