Adaro Andalan
The Company, established in 2004, is a holding company that oversees subsidiaries engaged in coal mining, mining services, other management consulting activities, water resources management, electricity, specialized freight services, oil palm plantations, rubber plantations and other latex-producing plants, with operational areas including South Kalimantan, South Sumatra, and Central Kalimantan. The business model of the Company and its subsidiaries (the “Group”) includes a supply chain with coal mines as the starting point of operations to power plants as the end point of its vertical integration.
The following are important events and track records of the Company and its subsidiaries:
MILESTONE
The Company was established Jakarta as PT Alam Tri Abadi.
The Company acquired AI, a thermal coal company holding a coal contact of work with the Government of Indonesia and commencing commercial production in 1992 with the trademark Envirocoal.
AI's production increased by more than 28% from the previous year to 34.4 million tons.
The Company acquired PT Adaro Logistics ("AL"), which already had a subsidiary PT Maritim Barito Perkasa ("MBP"), with 99.83% ownership.
The Company set foot in South Sumatra through the acquisition of PT Mustika Indah Permai ("MIP").
PT Adaro Tirta Mandiri ("ATM") was established under the name PT Sarana Rekreasi Mandiri.
The Company acquired PT Semesta Centramas ("SCM"), PT Laskar Semesta Alam ("LSA") and PT Paramitha Cipta Sarana ("PCS"), which hold three Operational Business Licenses ("IUP") in concessions near the operational area, resulting in the Company holding a 75% stake in each of SCM, LSA and PCS.
Commercial coal production from SCM commenced, with a production of 890 thousand tons.
- Pembentukan kerjasama strategis antara AI dan EGAT International Company Limited ("EGATi"). AI menerbitkan 57.857 lembar saham atau 11,53% dari saham yang diterbitkan, dan saham baru yang diterbitkan AI ini dibeli oleh EGATi. Perolehan penjualan saham sebesar AS$325 juta akan digunakan untuk memperkuat posisi keuangan AI.
- PT Sarana Rekreasi Mandiri mengganti namanya menjadi PT Adaro Tirta Mandiri dengan bisnis utama pengelolaan air melalui sistem penyediaan air minum.
Listing of the subsidiary, Arindo Mauritius, on the Stock Exchange of Mauritius (SEM). The share listing successfully raised $12.1 million. This listing enables Arindo Mauritius to improve access to capital and provides greater financial flexibility for future growth planning and financing.
- Commercial coal production from MIP commenced, with a production of 300 thousand tons.
- AI successfully issued investment grade notes (BBB- from Fitch Credit Rating) worth $750,000,000.
PT Kaltara Power Indonesia ("KPI") was established. KPI will develop a 1,060 MW coal-fired power plant in an industrial area in North Kalimantan.
- Coal production from AI, SCM, LSA, MIP reached a record high of 60.77 million tons.
- AI received the Gold PROPER award, which is the highest environmental management award from the Ministry of Environment and Forestry (KLHK), for the fifth consecutive year (out of a total of six times).
- The Company changed its name to PT Adaro Andalan Indonesia.
- On December 5, 2024, the Company was officially listed on the Indonesia Stock Exchange with the ticker code AADI and became a public company.
