Ann: Cokal to Develop Underground Coal Production at the BBM Mine, page-169

Unless you have worked in Indo it may be a little hard to comprehend.
PT BBM owns the mining area and almost all that is contained in the boundaries. It is leased from Government.
Cokal owns 60% of BBM.
PT TBAR same except Cokal owns 75%.
Cokal owns 100% of PT BSN
PT BSN owns half the 98 km roads with usage rights over the other half. Owns Batu Tuhup port, owns a block of land near Buntok, owns current haul trucks, owns small barges and tugs, leases 2 x large barges, in the future will own shallow draft push?
PT BSN will charge BBM and TBAR a profitable barge freight to use thise barges.
PT BSN will charge 100% of BBM and 100% of TBAR and 100% of Underground coal mined for haulage, use of road, use of port, loading fees, barging freight. It will be a great Profit Centre.
Petrindo will pay a fee to use the 98 km road? How much??
Petrindo will have their own trucks.
Petrindo will pay a fee to use Batu Tuhup plus a storage and loading fee.
Petrindo will have their own barges.

Frankly, I'd rather own direct shares in PT BSN than CKA.