Adaro Energy is Indonesia's second-largest coal miner by production volume and largest by market capitalization. The company owns mines in South Kalimantan Province and produced more than 50 million tons of coal in 2013.
Adaro started commercial production in the early 1990s and was acquired by a group of businessmen in 2005. The group included Edwin Soeryadjaya and Garibaldi Thohir, both of whom are sons of the co-founders of Astra International, one of Indonesia's largest conglomerates. After taking Adaro public in 2008, the group of investors merged most of their share ownerships into a single entity, Adaro Strategic Investments, which currently controls more than 40% of total shares. Soeryadjaya serves as Adaro's president commissioner and Thohir as president director & CEO.
In 2011, Adaro joined a consortium of Japanese companies to build one of the largest coal-fired power plants in Asia. But the $4 billion project has since been delayed due to opposition by land owners and environmental groups.
Business Summary
PT Adaro Energy Indonesia Tbk engages in the integrated coal mining, logistics, and power businesses through its subsidiaries. It operates through the following segments: Coal Mining and Trading, Mining Services, Logistics, and Others. The Coal Mining and Trading segment produces and distributes thermal coal. The Mining Services segment provides exploration, drilling, transportation, logistical support, and overburden mining removal services. The Logistics and Others segment focuses on coal terminal operations, barging and ship loading, channel dredging, and maintenance contracting activities. The company was founded on July 28, 2004 and is headquartered in Jakarta, Indonesia.
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