Philippines-based National Power Corp announced on Wednesday it has completed a deal with three Indonesia suppliers for the sale of 585,000 tonnes of coal. This is the first contract Napocor has sealed since July 2008 because of high price last year.
The price of coal reached a record US$200 per tonne in July which prevented Napocor from buying. But on Monday, coal prices declined to US$83 a tonne.
Data provided by Napocor in its Web site, it identifies the three suppliers as PT Trubaindo Coal Mining, PT Indominco Mandiri and PT Kaltim Prima Coal.
According to the Philippines biggest power producer, the contracts were awarded in December and the Indonesian suppliers will start their initial batch of delivery this month.
The bulk of the coal will be used to feed Napocor’s Sual and Pagbilao coal-fed power plants.
For 2009, Napocor said it is expected to import 3.16 million tonnes of coal for its coal-fired power plants.