Petrindo (CUAN) Targets Top Six Indonesian Coal Producers, Aims for 30 Million Tons Output by 2031
Tue 02 Jun 2026, 16:29 PM
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PT Petrindo Jaya Kreasi (CUAN) continues to accelerate its expansion in the mining and energy sectors. Throughout 2025, the company, reported revenue of USD 1.21 billion, up 51.63% from USD 801.72 million in the previous year. The company's EBITDA also increased 24.49% to USD 404.62 million.
Alongside its strong financial performance, Petrindo has intensified its transformation into an integrated mining and energy group through a planned acquisition of PT Singaraja Putra Tbk (SINI), a transaction being carried out through the company's affiliated entities, including PT Petrosea Tbk (PTRO).
In December 2025, Petrindo, through its subsidiary PT Kreasi Jasa Persada and affiliated entities, indirectly acquired a 19.99% stake in SINI and is currently participating in the company's rights issue. Upon completion of all transactions, Petrindo and its affiliates are expected to hold at least a 29% ownership stake in SINI.
The acquisition forms part of the company's long-term strategy to strengthen its asset base, expand its business network, and build an integrated mining and mining services group. On a technical basis, the combined coal reserves of the company and its subsidiaries are projected to reach approximately 378 million tons.
Petrindo President Director Michael said the expansion alongside Singaraja Putra is expected to significantly increase the group's production capacity over the coming years.
"Through Petrindo's expansion together with its subsidiaries and Singaraja Putra, we project that production will gradually increase to exceed 30 million tons per year by 2031. This has the potential to position the group among Indonesia's six largest coal producers based on annual production volume," he said on June 2, 2026.
According to the company, the strategic value of the transaction extends beyond additional reserves and higher production volumes. It is also expected to strengthen Petrindo's integrated business model, which combines resource ownership, Petrosea's operational capabilities, and logistics infrastructure capable of handling large-scale annual volumes.
Under this model, increased production is expected to directly boost utilization rates across the group's mining roads, ports, and logistics facilities. The company said the synergy between mining assets and logistics infrastructure is a key driver of value creation throughout its mining business chain.
Operationally, Petrindo and its subsidiaries also plan to expand mining road infrastructure to support all-weather road operations, deploy double-trailer hauling systems, and develop electric vehicle (EV) truck fleets to improve logistics efficiency and operational productivity.
Through the acquisition of SINI, the company believes integration between mining assets, mining services, and logistics infrastructure will become increasingly robust within a single interconnected business platform.
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