AGE is ambitious thanks to its coals deals with China
Updated: 2011-04-07 15:14
By Zhao Xin (chinadaily.com.cn)
Asia Green Energy Public Co Ltd (AGE), a leader in the business of importing and distributing coal in Thailand, has announced an ambitious goal: providing China with 1 million tons of steam coals this year, with the idea of increasing revenues to $70 million.
AGE, in fact, has its own Five-Year Plan (2011-2015), which includes selling around 4-5 million tons of coal to China. The company was established in 2004 as a part of the Kok Huad Group, and was listed on the Thai Stock Exchange in 2008. And it has absolute confidence in its ability to penetrating markets overseas.
By December 2010, AGE was already exporting Indonesian coal to China, repeatedly sending its shipments to South China.
Recently, the company has been handling a long-term contract with existing customers and starting on some trial shipments with new buyers. Its Five-Year Plan has the ambitious goal of exporting 5 million tons a year of Indonesian coal.
For Thailand's domestic sales, AGE currently imports most its coal from Indonesia and aims to increase import volume by 20 percent, to at least 3 million tons this year.
One important part of this has been discussions on acquiring more than 90 percent of the shares of an Indonesian coalmine, this year, and another mine in 2012.
AGE has agreements with more than 25 well known, reputable coalmines in Indonesia and has signed tong-term contracts with one of the top five mines, and several of the top 20.
It also has agreements with top-of-the-line vessel liners to add weight to the contracting process.
The company is in the process of investing more in the mining business and plans to acquire its own stockpiles and jetties in the near future. The purpose of this is mainly to secure supplies of coal amidst the sharply rising demand now and in the future.
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