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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD


Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck Kwong sealed a coal agreement with TP Utilities Pte Ltd (TPU) on January 28 to supply 13.36 million metric tons for 15 Years to TPU Tembusu Multi-Utilities Complex, owned by TPU.

Based on company's  disclosure to Indonesia Stock Exchange (IDX), Bayan Resources Director Jenny Quantero and Russel Neil stated that, the agreement will be valid for 15 years, commencing from 2012.

TPU is a subsidiary of Singapore-based power plant company Tuas Power Ltd.

At this point, TPU manages TPU Tembusu Multi-Utilities Complex that currently still under construction.  The complex will provide integrated facility services for industries around Tembusu in Jurong Island, Singapore.



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