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American International Ventures forms JV with PT Musi Bumi Energi

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World Coal,

American International Ventures, Inc., (AIVN) has entered into a joint venture agreement with PT Musi Bumi Energi (MBE), an Indonesia Corportion. MBE has an 8855 ha. (21 881 acre) coal concession, located at Musi Banyuasin, South Sumatera (Indonesia). Coal reserves of approximately 100 million t (Pre-Jorc estimate) of low rank subbituminous coal reserves located on said concession.

Robert G. Polce, CEO of AIVN, stated: "The intent of this joint venture is to develop coal-to-liquids plants using coal reserves located on the joint venture coal concessions. The first phase of this development will consist of one coal-to-liquid plant that consumes 2000 t of coal per day producing 8000 bbls of synthetic crude oil per day. Then we will develop what is referred to as a ‘SET’, which ultimately includes four coal-to-liquid plants and one refinery to process the synthetic crude oil produced into the desired products. Each of the four plants will process 2000 t of coal per day, with a total of 8000 t coal input per day. Total synthetic crude oil production will be 32 000 bpd, with plant production life of 30 years.”

The total project development cost will be US$1.2 billion, with an average cost of US$300 million per coal-to-liquids plant.

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