JAKARTA. PT Sumber Global Energy Tbk (SGER), a coal mining company, has obtained a contract of coal supply to Vietnam of 500,000 metric tons (MT).

Michael Harold, Corporate Secretary of SGER, confirmed that the agreement was made with Power Generation Corporation (PGC) as the buyer, and Duyen Hai Thermal Power Company (DHTP) as the seller representative. The net caloric value of the coals is projected at 4,600 kcal/kg.

“This transaction has a potential contract value of USD 44.45 million or equal to approximately IDR 705 billion,” said Harold as quoted Thursday (21/11).

Prior to this, SGER had signed a coal sales and purchase agreement with PT Merge Mining Industri with total volume of 2 million MT. The contract is said to bring in potential revenue of up to IDR 3 trillion for the company.

Until September 30, 2024, SGER’s net income was recorded at IDR 10.88 trillion, while its net profit clocking up to IDR 565.16 billion. (KR/ZH)