Russia Expresses Growing Interest in Indonesia′s Coal Industry

09 , 2013 | Source: Antara News

Russia′s Deputy Minister for Energy Yury Sentyurin expressed his country′s growing interest in investing in Indonesia′s coal industry, as per a press release from Indonesian Embassy in Moscow on Wednesday.

Russia′s Deputy Minister for Energy Yury Sentyurin


"There will be an increase of demand for coal as source of energy in Russia and I believe Indonesia with its large amount of coal production can be one of the main provider for us," the deputy minister said as quoted in the embassy′s press release, during meeting with Indonesian Embassy′s Charge d′Affairs in Moscow Moenir Ari Soenanda last Tuesday (Sept 3).

He expressed hope to boost cooperation in energy sector with Indonesia. Therefore he said he will lead 30 Russian delegates to attend the Electric, Power and Renewable Energy Exhibition held in Jakarta starting September 3-7. Among the Russian delegates are government officials and entrepreneurs working in energy sector.

Apart from attending the Jakarta exhibition, the deputy minister said he will arrange meeting with related officials from Indonesia to discuss about possible cooperation in energy sector between Indonesia and Russia.

Meanwhile Indonesian Embassy′s Charge d′Affairs in Moscow Moenir Ari Soenanda said Indonesia is currently focusing on energy projects which can support the Master Plan for Acceleration and Expansion of Indonesian Economic Development (MP3EI). Hence Indonesia welcomes foreign investors to participate in related projects.

Indonesia`s coal production is forecast to reach 400 million tons this year overshooting the target of 390 million tons, producers said.

Demand for coal on the domestic and international markets remain stable despite report of import cut by China, Executive Director of The Indonesian Association of Coal Producers (APBI) Supriatna Suhala said.



Coal barge at Banjarmasin, Indonesia

The market of low rank coal remains stable with growing demand from coal fired power plants offsetting import cut by China.

Supriatna said growing demand for coal especially for low calorie coal has boosted production.

It is obvious from the production in the first three months of this year reaching 95 million tons, he pointed out.

"Seeing the trend we believe the production target of 390 million tons would be exceeded," he said.

Last year, the country`s coal production totaled 386 million tons, and 75 million of the production was for domestic market with the rest exported.

In 2013, the domestic requirement is expected to rise to 80 million tons, Supriatna said.

 

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President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
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Indonesias real GDP growth is projected to increase from 5.2 percent this year to 5.3 percent in 2018, according to the World Banks June 2017 Indonesia Economic Quarterly.
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