PT Bukit Asam (PTBA), an Indonesian state coal miner, has set its coal sales target at 28.38 MnT in CY19, Kontan reported citing Arviyan Arifin, president director of the company on Monday.
There was an increase of 15% Y-o-Y in sales target from the previous year, as per the report.
Bukit Asam is working to strengthen its sales volume of coal in the export market during 2019. For this year, PTBA has set a growth target of export sales volume up 36% Y-o-Y to 14.71 MnT.
As for domestic sales volume, PTBA targets 13.67 MnT in CY19.
Local media had reported that the company’s coal production was set to grow 1.4% Y-o-Y to 27.3 MnT in CY19.
The company’s traditional overseas market includes China and India. Now, the company wants to expand its export markets to Bangladesh, Philippines and Vietnam as well.
The company announced in brief prospectus that it had reported a 12.2% Y-o-Y increase in net profit to 5.02 Trillion Indonesian Rupiah in 2018 from the previous year. Its revenue rose 9% year-on-year to 21.17 Trillion Indonesian Rupiah last year, according to the report.
PT Bukit Asam is now a unit of Inalum holding. Other members of the holding are PT Antam, PT Timah and PT Freeport Indonesia.
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