Establishment of Joint Venture Coal-Mineral KUKAR VIETINDO

On July 18th, An Khanh Thermal Power Corporation and PKSDE Company of Indonesia hosted the signing ceremony of establishment of Joint Venture Coal-Mineral KUKAR VIETINDO Company.  

Attending were: Mrs. Ma Thi Nguyet, Member of Provincial Standing Committee, Vice Chairman, Mr. Do Manh Hung, Member of Provincial Standing Committee, Deputy Head of the provincial National Assembly delegation, Mr. Syamsudin Sidabutar, Deputy Ambassador of the Republic of Indonesia in Vietnam, Mrs. Rita Widyasari, head of Kutai Kartanegara district, Indonesia...

Previously, Mr. Duong Ngoc Long, Chairman, Deputy Secretary of Provincial Party Committee, had a closed conference with Indonesian guests. Here, he generally introduced the potential, Strength   and some achievements in economic as well as social life in recent years and the investment attraction policies... He also praised the two companies' bold cooperation, which strengthens the traditional relationship between the two countries...

 An Khanh Thermal Power JSC has construction task of two thermal power plants: An Khanh 1 with 100MW capacity (Dai Tu) and An Khanh 2 with 300 MW capacity (Pho Yen). At this time, the An Khanh 1 is in building process, striving to kick off both 2 units in 2012. And the An Khanh 2 is completing procedures to start.

To ensure fuel sources for the operation of two plants, An Khanh Company has boldly ventured with PKSDE Company of Indonesia to establish Joint Venture Coal-Mineral KUKAR VIETINDO Company. The new company has the legal capital of 20 million USD, of which An Khanh contributed 16 million USD (approximately 70%). Having provided the coal mines, tin mines, manganese and the legal procedures necessary by Indonesian and local government, the company explores and exploits business processing, exports coal and minerals, machinery, and materials to exploit as well as export of coal and minerals in Vietnam and throughout the world.

Speeching at the ceremony, Mrs. Ma Thi Nguyet, Mr. Syamsudin Sidabutar and Mrs. Rita Widyasari highly appreciated the cooperation in exploration, mining and vowed to continue to create favorable cooperation conditions for others businesses in agriculture and trade fields.