Our History
The Company, established in 2004, is a holding company operating businesses in the thermal coal, logistics, land, investments, and power generation segments, with operational areas located in South Kalimantan, South Sumatra, and Central Kalimantan. The business model of the Company and its subsidiaries (“Group”) consists of the supply chain with coal mines as the starting point of the operations to power plants as the final point of the vertical integration.
The following are important events and track records of the Company and its subsidiaries:
|
Date
|
Remark
|
|
2004
|
- The company was established Jakarta as PT Alam Tri Abadi.
|
|
2005
|
- 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.
|
|
2006
|
- AI’s production increased more than 28% over the previous year to 34.4 million tonnes.
|
|
2009
|
- The Company acquired AL, which already has a subsidiary, MBP, with a 99.83% ownership.
|
|
2011
|
- The company set foot in South Sumatra by acquiring MIP.
|
|
2012
|
- ATM was established as PT Sarana Rekreasi Mandiri.
|
|
2013
|
- The company acquired SCM, LSA, and PCS, which hold three IUP mining licenses on the concession near the operational site, resulting in the company holding 75% share ownership in SCM, LSA, and PCS individually.
|
|
2014
|
- Coal commercial production from SCM started by producing 890 thousand tonnes.
|
|
2016
|
- The strategic alliance between AI and EGAT International Company Limited (EGATi) was formed. AI issued 57,857 shares or 11.53% of the issued shares, and the newly issued shares were purchased by EGATi. The proceeds from the sales of shares amounting to US$325 million would be used to strengthen AI’s financial position.
- PT Sarana Rekreasi Mandiri changed its name to PT Adaro Tirta Mandiri with the main business of water treatment through drinking water supply system.
|
|
2017
|
- The company’s subsidiary, Arindo Mauritius, was listed on the Stock Exchange of Mauritius (SEM). The share listing generated proceeds of US$12.1 million. The listing allowed Arindo Mauritius to increase capital access and provided more financial flexibility for future planning and growth financing.
|
|
2019
|
- MIP commenced coal commercial production by producing 300 thousand tonnes.
- AI issued a bond with investment grade rating (BBB- by Fitch Credit Rating) totaling US$750,000,000.
|
|
2022
|
- KPI was established. KPI will develop a coal-fired power plant with the capacity of 1,060 MW in an industrial park in North Kalimantan.
|
|
2023
|
- Coal production from AI, SCM, LSA, and MIP hit record high of 60.77 million tonnes.
- AI received Gold PROPER, the highest award in environmental management from the Ministry of Environment and Forestry, for the fifth consecutive year (out of six times in total).
|
|
2024
|
- The company changed its name to PT Adaro Andalan Indonesia.
- In June 2024, the Company purchased all shares owned by AP in KPI
|
