PT Bukit Asam Tbk (PTBA), member of Mining Industry Indonesia (MIND ID), maintained its brilliant performance in the first quarter of 2022.In the first three months of 2022, the Company managed to record a net profit of IDR2.28 trillion or a significant 355% growth year on year from the 2021 achievement of IDR 500.52 billion. Operating revenues reached Rp8.21 trillion or grew 105% from the same period the previous year of Rp3.99 trillion. Meanwhile, the Company's total assets grew by 8% from IDR 36.12 trillion as of December 31, 2021 to IDR 38.99 trillion as of March 31, 2022.
This brilliant achievement was supported by the Company's solid operational performance throughout the first quarter of 2022. Prioritizing cost leadership in every line of the company, the Company implements sustainable efficiency optimally.
Production and Sales
On a year on year basis, the Company's coal production during the first quarter of 2022 increased 40% to 6.34 million tons, while coal transportation volume increased 16% to 6.17 million tons. This increase in coal production and transportation volume was followed by an 18 percent increase in coal sales volume to 6.97 million tons.
Company Target 2022
The company targets a coal production of 36.41 million tons and a transportation target of 31.50 million tons for 2022. As for the coal sales volume in 2022, the Company targets an increase to 37.10 million tons.
Development Project Progress
Coal Gasification
The issuance of Presidential Regulation No. 109/2020, which was signed on November 17, 2020, by President Joko Widodo, marked the inclusion of two PTBA projects in the list of National Strategic Projects. The first one is the Company's coal gasification project, and the second one is the Bukit Asam Coal-Based Industrial Estate (BACBIE), both located in Tanjung Enim, South Sumatra.
PTBA, Pertamina, and Air Products & Chemicals Inc (APCI) held a groundbreaking for the downstream coal-to-dimethyl ether (DME) project on January 24, 2022, in the Tanjung Enim Industrial Estate, Muara Enim Regency, South Sumatra. This activity was attended and inaugurated by the President of the Republic of Indonesia, Joko Widodo.
This National Strategic Project will be carried out in Tanjung Enim for 20 years by bringing in foreign investment from APCI of USD 2.3 billion or equivalent to Rp 32.9 trillion. With the utilization of 6 million tons of coal per year, this project can produce 1.4 million DME per year to reduce LPG imports by 1 million tons per year.
Sumsel-8 Mine Mouth Coal-Fired Power Plant (PLTU)
Sumsel-8 mine-mouth coal-fired power plant with a capacity of 2x620 MW is a strategic project of PTBA with a value of US$ 1.68 billion. This PLTU is part of the 35 thousand MW project built by PTBA through PT Huadian Bukit Asam Power (PT HBAP) as an Independent Power Producer (IPP).
PT HBAP is a consortium between PTBA and China Huadian Hongkong Company Ltd. The construction progress of the PLTU project, which will require 5.4 million tons of coal per year, has reached 96,57%. This PLTU is expected to be fully operational commercially in 2022.
Sumsel-8 mine-mouth coal-fired power plant utilizes environmentally friendly technology supercritical. The PLTU also applies technology flue gas desulfurization (FGD), which functions to minimize sulfur dioxide (SO2) from PLTU exhaust gas emissions.
Development of Solar Power Plants (PLTS)
The Company's business expansion into the new and renewable energy sector is also starting to roll. One form of its development is PLTS at Soekarno Hatta Airport in collaboration with PT Angkasa Pura II (Persero). The PLTS consists of 720 solar panel systems with photovoltaics with a maximum capacity of 241 kilowatt-peak (kWp) installed in the Airport Operation Control Center (AOCC) Building. PLTS was fully operational on October 1, 2020.
The Company is currently also planning to develop PLTS in the Company's post-mining areas, namely:
- PLTS in Tanjung Enim with a capacity of up to 200 MW and a total area of 224 Ha;
- PLTS in Ombilin with a capacity of up to 200 MW and a total area of 201 Ha
- PLTS in Bantuas, East Kalimantan, with a capacity up to 200 MW.
In addition, PTBA, together with PT Jasa Marga (Persero) Tbk, is also exploring the potential for cooperation in the development of PLTS on the Jasa Marga Group toll road, which is marked by the signing of Memorandum of Understanding (MoU) on February 2, 2022.
One form of implementation from the signing of the MoU is the groundbreaking PLTS on the Bali Mandara Toll Road on March 5, 2022. PLTS has a capacity of a 400 kilowatt peak (kWp) and will be built through PTBA's subsidiary, PT Bukit Energi Investama. This project is a concrete manifestation of the Company's commitment to reduce global carbon emissions and support Indonesia's G20 presidency.
Coal Transport Project
in collaboration with PT Kereta Api Indonesia (Persero), is developing railways for coal transportation with a capacity of 72 million tons/year in 2026, which consists of:
- Development of the new Tanjung Enim - Northward
- Existing facility development
- Tanjung Enim – Northward: Kertapati Port, the expansion of the existing line capacity to 5 million tons per year has been successfully operated since the Q1 2020 and has been increased to a capacity of 7 million tons in Q4 2021.
- Tanjung Enim – Southward: Tarahan-1 expands existing line capacity to 25 million tons/year in Q2 2021.
