PT Garda Tujuh Buana Tbk (GTBO) has set a coal production volume target of 2.6 million Metric Tons (M/T) by 2023.
The total production volume will be fully exported (100%) to several destination countries with details, as much as 780 thousand M/T to China, 600 thousand M/T to Thailand, 500 thousand M/T to India, and the rest will be exported to Vietnam.
Vietnam is a new country that is the destination of GTBO in expanding its export market in 2023.
GTBO projects the sales value to be US$ 80 million to US$ 90 million.
"Next year we target coal production of 2.6 million M/T, if converted, the value is equivalent to US$ 80 million to US$ 90 million," said GTBO Director Octavianus Wenas to Kontan.co.id, Tuesday (13/12).
Not quite there, GTBO also has 6 new contracts for the period January - June 2023.
Octavianus said the contract is a collaboration between the company and overseas companies in terms of their business segment in coal.
"The cooperation will only run next year, so we can't tell you how the details are, of course, with foreign companies, because our coal production cannot be marketed domestically," he said.
Octavianus further explained that the calorific value of coal produced by GTBO did not meet the value needed by the Indonesian market which was 4000 cal / gram.
"Why we are 100% export because the caloric value of the coal we produce is only 3000 cal/gram. This is lower than the minimum requirement limit in Indonesia which is 4000 cal/gram," he said.
Previously, GTBO had new contracts from 3 buyers, with a total shipment of 1.4 million M/T coal volumes shipped to China, Thailand, and India.
Image source: DOK GTBO
