Ancora secures sales contract worth $200 million
Friday, September 21 2012 - 01:32 AM WIB
PT Ancora Indonesia Resources Tbk has secured contracts worth US$200 million for the sales of ammonia nitrate ? an explosive used in mining, from local miners including PT Adaro Energy Tbk (ADRO), PT Pamapersada Nusantara and PT Asmin Koalindo Tuhup (AKT), Investor Daily reported.
The company?s President Director Ancora Dharma Djojonegoro said in Jakarta on Thursday that with the new contracts, he hoped the company total sales would be able to increase by at least 10 percent to Rp 1.34 trillion this year from Rp 1.19 trillion in 2011.
In the first semester, Ancora booked total sales of US$31 million, down from $32 million in the same period, last year.
Ancora produces ammonia nitrate through its subsidiary PT Multi Nitrotama Kimia (MNK), which at present produces about 37,000 tons a year.
MNK is currently building its second ammonia nitrate factory with a capacity of 100,000 tons a year, which is scheduled for commercial operation in 2013. (*)