Geo Energy Secures Sinosure Backing for $150 Million Indonesian Project

MT Newswires

2024-12-27

Geo Energy Resources (SGX:RE4) has secured full insurance backing from China Export & Credit Insurance Corporation (Sinosure) for its $150 million Integrated Infrastructure project in Indonesia, according to a Thursday filing on the Singapore Exchange.

The project, featuring a 92-kilometer haulage road and jetty in South Sumatra and Jambi, aims to enhance logistics efficiency and support coal production at Geo Energy's PT Triaryani mine. It will handle 40 million to 50 million tonnes annually, with 25 million reserved for the group and the rest leased to neighboring mines.

Construction began in August, with completion expected in the first half of 2026. Geo Energy projects $10 per tonne in cost savings and plans to boost annual coal production to 25 million tonnes.

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