Coal firm purchase

摘要

Tin mining company PT Tambang Timah is to purchase three coal mining companies formerly owned by the Salim Group. Timah is to use its own funds to finance the acquisition of the companies, which currently operate under the holding company PT Indocoal.Together, the companies held by PT Indocoal operate 120,000ha of coal concessions in Kalimantan and South Sumatra. Indocoal is one of a number of companies surrendered by the Salim Business Group to the Indonesian Bank Restructuring Agency (IBRA) to repay debts to local banks.