HomeNewsVideos

Bumi Resources seeks strategic partner for Rp 22.4 trillion gasification investment

25 October 2019 15:52

JAKARTA. PT Bumi Resources Tbk (BUMI) is seeking a strategic partner to develop coal downstreaming or gasification. The project requires investment funds of US$ 1.6 billion or Rp 22.4 trillion.

BUMI President Director Saptari Hoedaja said coal, being an affordable energy source, can be developed as a source of raw materials. The source can be processed as dimethyl ether (DME) and as a fuel mixture, which can reduce oil imports. In addition, gasification results can also be used for domestic and export needs.

"We've done a feasibility study and we're currently seeking the appropriate technology. This requires around US$ 1.6 billion," Mr Hoedaja told CNBC Indonesia, Friday (25/10).

In order to anticipate fluctuating coal prices, BUMI has also started diversifying its business to gold, copper, and zinc mining. (AM/MS)

© 2020 - IDN Financials - All Rights Reserved.