Tembusu Partners Commits US$7.5 Million to Param Mitra Coal Resources (Asia)
Source: Tembusu Partners
Param Mitra Coal Resources, which owns two operating coal mines in Indonesia, has secured a US$7.5 million investment from private equity investor Tembusu Partners. The transaction was structured through Tembusu’s Growth Fund II. This is part of a US$20 million financing round underwritten by The Islamic Bank of Asia, a Singapore-based joint venture between DBS Bank and investors from the Gulf Cooperation Council. The company plans to increase annual coal production to five million tons within three years.