PTBA - Exploring to diversify and downstream coal business

PTBA - Exploring to diversify and downstream coal business Bukit Asam (PTBA) is currently exploring to diversify and downstream its coal business. The company has shifted its focus away from dimethyl ether (DME) projects to explore coal' downstreaming such as monoethylene glycol (MEG), coal bed methane (CBM), and graphite anodes. Initially proposed as an LPG alternative, PTBA targets to complete the coal-to-DME conversion program by 4Q27. However, the US investors for Air Products, had withdrew from PTBA' DME projects in 2023, in order to prioritize blue hydrogen, that has impacted PTBA's diversification plans. Despite interest from Chinese investors like Sedin Engineering in the DME project, concerns persist regarding the economic viability of DME without government incentives such as subsidies. (Source: Investor Daily)