Adaro Energy

PT Adaro Energy Tbk is Indonesia's second-largest coal miner by production volume and its largest by market capitalisation. The company is an Indonesian energy group that focuses on coal mining through subsidiaries.[1] The principal location is at Tabalong district in South Kalimantan, where the subsidiary PT Adaro Indonesia operates the largest single-site coal mine in the southern hemisphere (roughly 110,000 tons of coal per day).[2] Adaro Energy operates under a first-generation CCA (coal co-operation agreement) with the Indonesian Government valid until 2022.

PT Adaro Energy Tbk.
Public
Traded asIDX: ADRO
IndustryCoal, Power Plant, Water
Founded1982
HeadquartersTabalong, South Kalimantan, Indonesia
Key people
Garibaldi Thohir (CEO)
Revenue USD 3.457 billion (2019)
USD 618 million (2019)
USD 435 million (2019)
Total assets USD 7.217 billion (2019)
Total equity USD 3.983 billion (2019)
Number of employees
23,000 (2019)
Websitehttp://www.adaro.com/

Adaro has been clearing land in Central Java for a 2,000MW coal plant, after a delay for more than four years due to land acquisition issues.[3] The construction of Indonesia's largest coal plant, into which Adaro invested $4.2 billion, began in June 2016.[4]

Adaro's strategy focuses on power generation as of the company's "three pillars" besides coal exports and logistics.[2]

History

In 1976 the Indonesian Mines Department divided East and South Kalimantan into eight coal blocks and invited tenders for these blocks. Spanish state-owned enterprise Enadimsa (empresa nacional adaro investigaciones mineras s.a.) bid for Block 8 in the Tanjung district of South Kalimantan. Adaro Indonesia’s Coal Cooperation Agreement (CCA) was signed on Nov. 2, 1982. In 1989 a consortium of Australian and Indonesian companies purchased 80% of Adaro Indonesia from Enadimsa.

In 2008, Adaro Energy raised $1.3 billion in the country's largest ever initial public offering.[5]

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References
  1. Investments, Indonesia (2017-06-20). "Adaro Energy". Indonesia Investments. Retrieved 2017-06-21.CS1 maint: ref=harv (link)
  2. "Adaro Energy on full offensive for Indonesia's power sector- Nikkei Asian Review". Nikkei Asian Review. 2016-08-05. Archived from the original on 2016-11-04. Retrieved 2017-06-21. Indonesian coal giant Adaro Energy is challenging the handful of companies that dominate the country's power generation with an ambitious plan to build 5,000 megawatts of capacity by 2019, searching for a new growth driver amid sluggish coal demand.
  3. "Indonesia's Adaro Energy says power plant on track". Nikkei Asian Review. 2016-10-12. The project is part of the ambitious plan by Indonesian President Joko Widodo's government to construct 35,000MW of generating capacity by 2019. Current capacity meets only 90% of demand throughout the Indonesian archipelago.
  4. "Construction of Indonesia's largest coal plant begins- Nikkei Asian Review". Nikkei Asian Review. 2016-06-08. Archived from the original on 2017-11-19. Retrieved 2017-06-21.
  5. Reuters (2008-07-15). "Coal Firm Adaro Surges in Indonesia's Biggest IPO". CNBC. Retrieved 2017-06-21.


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