SINGAPORE — BlackGold Natural Resources Limited (BlackGold) announced that, through its subsidiary, PT Samantaka Batubara (“PT SB”), the Group has received a purchase order (the “PO”) from an Indonesian state-owned cement company, PT Semen Padang (“Cement Padang”).
The PO has an approximate value of US$12.6 million and, barring unforeseen circumstances, the Group expects to complete the PO within the next 11 months.
Founded in 1910, Cement Padang is a state-owned company and a subsidiary of PT Semen Indonesia (Persero) Tbk, a cement manufacturing company listed on the Indonesia Stock Exchange and the largest cement distributor in Indonesia.
Mr Philip Rickard, Chief Executive Officer of the Group, commented: “We are very pleased to receive this purchase order from Cement Padang. This order represents another critical milestone for BlackGold, as the Group adds another esteemed state-owned company to its current portfolio of customers.” – BusinessNewsAsia.com