Minister supports East Kalimantan's wish to acquire KPC

Minister of Mines and Energy Susilo Bambang Yudhoyono backed the wish of East Kalimantan administration to acquire shares in coal mining firm PT Kaltim Prima Coal (KPC), the Kaltim Post daily reported on Friday.

East Kalimantan administration public relations chief Haritsah Ratman said that the Minister expressed his support during a recent meeting with East Kalimantan Governor Suwarna AF.

Haritsah said the Minister agreed that East Kalimantan should be given the priority to acquire KPC.

KPC is obliged to divest its shares this year.

Haritsah said that KPC was expected to divest some 37 percent stake this year.

Governor Suwarna had repeatedly said that the administration had been determined to acquire the KPC stake. He also said that he wanted to buy up a 50 percent stake. (*)