Bumi Resources is trading 4.85% up at IDR 216 after subsidiaries began construction of a coal-to-gas plant targeted to produce up to two million tons annually.
- The project will use as much as 7.78 million tons of low-grade coal.
- It is expected to commission in 2029, improving the strategic value of Bumi’s coal assets.
- Heavy buying and foreign net purchases also supported momentum.