INDY - PT. Indika Energy Tbk

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JAKARTA - Coal from Indonesia is eyed by a number of countries in Europe to meet the needs of power plants, which have been hampered by war tensions between Russia and Ukraine.

Ricky Fernando, Head of Corporate Communication of PT Indika Energy Tbk (INDY), said that his party had received additional requests from Europe. However, this request, said Fernando as quoted by Tempo, is still hindered by the criteria for coal that Europe is interested in.

"Most of Indonesia's coal production, including by INDY, has different specifications and characteristics from the criteria for coal demand from Europe," said Fernando.

According to data from idnfinancials.com, INDY's coal sales volume in the second quarter (Q2) 2022 reached 5.4 million tons. Meanwhile, sales in the domestic market were only 2.6 million tons.

China is still INDY's largest coal buyer country, with a percentage of 37% of total sales. Then sales to a number of countries in Southeast Asia 15%, India 7%, Taiwan 4%, South Korea 3%, and Japan 2%.

The value of INDY's coal sales during the first semester (1H) 2022 was recorded at US$1.5 billion. Meanwhile, sales to domestic customers were recorded at US$258 million. (KR/LM)