TOKYO, Nov 8 (Reuters) - Japan’s Idemitsu Kosan Co said it acquired a 3 percent stake in Indonesian coal producer Baramulti Sukses Sarana for a little over 1 billion yen ($13 million) on Thursday, as it aims to sell cheaper low-calorie sub-bituminous coal in Asian markets.
The Indonesian firm currently produces about 3 million tonnes of coal per year from its Antang Gunung Meratus Mine but output is expected to rise to 7 million tonnes by the end of 2014, Idemitsu said.
The deal will enable Idemitsu to sell coal from the mine to Vietnam and China as well as to Japan, a company official said.
The move comes as the number of coal-fired power plants that use sub-bituminous coal as feedstock are expected to jump particularly in Vietnam, China and India. ($1 = 79.8700 Japanese yen) (Reporting by Osamu Tsukimori; Editing by Chris Gallagher)