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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT


Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Plant Ltd. Co, The Jakarta Post, reported.

The paper further reported that, under the agreement, Bayan will supply 1.5 million metric tons of coal to GNPower. “The agreement will be valid for 12 years starting from 2016 and will depend on GNPower’s financial closure of its project by Dec. 31, 2013,” Bayan said in an announcement submitted to the Indonesia Stock Exhange (IDX) on Friday.

GNPower operates a power plant development. It now has a 2x300 megawatts (mw) coal-fired power plant and a harbor located in Bangaray Alasasin, Mariveles, Bataan, the Philippines, JP said.



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