Indonesia Ministry of Justice issued license for founding PT Vietindo Kukar Energi Joint Venture Company
On December 26th 2012, Indonesia Ministry of Justice officially issued operation license for PT Vietindo Kukar Energi Joint Venture Company. This is a joint venture of exploiting coal and mineral between An Khanh Electricity JSC and PKSDE Company of Indonesia.
Accordingly, this joint venture company has legal capital of USD 20,000,000 in which An Khanh Electricity JSC holds 70% of charter capital (equivalent to USD 14,000,000) and PKSDE Company of Indonesia holds 30% of charter capital (equivalent to USD 6,000,000). PT Vietindo Kukar Energi Joint Venture Company is operated under the laws of Indonesia and oversea investment certificate of Viet Nam Ministry of Planning and Investment. The joint venture company is granted by Indonesia government the right to manage and exploit two coal mines with capacity of 89 million tons in East Kalimantan province – Indonesia and other several mineral mines are being implemented the geological survey and exploration.
