ABM Investama Unit Agrees to Sell 500,000 Tons of Coal to China

Indonesia’s ABM Investama Tbk said it agreed to sell 500,000 metric tons of power-station coal to a Chinese buyer through its PT Reswara Minergi Hartama unit.

Reswara’s PT Tunas Inti Abadi subsidiary signed the deal on June 4 with Guangzhou Huaneng Trading Co., ABM said in an e- mailed statement today. The fuel will be delivered in June to December this year, it said.

ABM has secured four contracts amounting to about 3.8 million tons, or 68 percent of its sales target of 5.5 million tons for this year, the company said.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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