SGX-backed CIC inks US$8.5m clean coal deal with Indonesian supplier
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Vivienne Tay
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Singapore
THE Commodities Intelligence Centre (CIC) has struck a US$8.5 million offtake agreement on behalf of its users with Indonesian coal supplier PT Anggun Makmur Energy (PT AME) to supply steam coal to power plants in Vietnam.
The first shipment to be produced by clean coal technologies will start in October, it said in a statement on Friday. Through the deal, CIC is looking at expansion in Asia to markets such as China and the Philippines; reducing cross-border transaction costs and creating more trade synergies in the region.
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