Xingrui industry and Indonesia Indika energy signed a long-term agreement

On November 6, the procurement demand release and on-site signing meeting of Henan trading group was held in Shanghai. Zhengzhou airport Xingrui Industry Co., Ltd. and Pt Indika energy TBK signed a long-term power coal import agreement of 4.5 million tons and 2 billion yuan in 2020. Han jiehui, deputy general manager of Xingrui industry, said that the signing not only has important strategic significance for Xingrui industry and Indika energy enterprises, but also will have a positive impact on the export of Indonesian coal and the import of Chinese coal. It is reported that Indika energy holds absolute shares of kideco Jaya Agung (91%) and Mutu, the high calorific value ore source in Indonesia, and Santan batubara and Mitra energy Agung. Its annual output of kideco is 32 million tons, and its main export target is the market of Greater China and Southeast Asia, which accounts for 27% of the total export volume. As a "native" Henan mixed reform enterprise, Xingrui industry makes full use of the advantages of the platform of the fair, and has never stopped exploring overseas markets while its domestic business is increasing year by year. The signing of the contract covers a wide range, including Indonesia's mainstream low sulfur, low ash, low calorific value coal and high calorific value Indonesian coal, etc., to fully respond to the national environmental policy and the "one belt and one way" policy. With the continuous development of economy and the rising of energy consumption, China's energy consumption structure is also constantly upgrading, especially since "de capacity" in 2016, high-quality imported coal has become an important lever to ease the tension of domestic energy consumption. According to Han jiehui, in 2018, China's coal import volume was about 280 million tons, of which power coal accounted for about 180 million tons. The signing of the long term association and the coverage of coal volume from all kinds of calorific value provided full services for China's end-users. Han jiehui said that with the sustained economic growth and steady energy consumption of emerging markets in China's neighboring countries in recent years, Xingrui industry needs large coal enterprises such as Indika energy as the backing to continuously develop and mature Xingrui's supply chain trade model in China, and copy this model to overseas markets to form a beneficial supplement with the Chinese market, which is bound to be beneficial." To provide strong support for the development process of Indika energy.