Indonesia's Berau Coal Energy will spend $126 million to increase production to 20.3 Mt of coal in 2011. Berau President Director Rosan P. Roslani said the company will need as much as $350 million for business development until 2014. “Our internal funds are enough to fund this project. We don’t see the need to use loans,” Rosan said as reported by detikfinance.com.
In the long term, he said, the company wanted to up coal production to 30 Mt by 2014, oadding that Berau had proven reserves of 326 Mt.
“As much as 97 percent of this year’s coal production has been under contract, mostly to the state electricity company PT PLN. We also have contracts with China, Korea, India, and Taiwan,” Rosan said.