PT Tambang Batubara Bukit Asam (PTBA.JK) submitted a bid to acquire BHP Billiton PLC's (BHP) coal mines after the Anglo-Australian company said it may pull out of Indonesia, a company official said Tuesday.

Bukit Asam President Director Sukrisno said the company has formed a consortium to buy the coal mines in Central and East Kalimantan. He declined to name the partners in the consortium.

Sukrisno said that the state-owned coal company has IDR1.5 trillion ($158 million) in cash that is available to finance the acquisition if it goes through.

The company has also sought a loan from several banks in case it needs more cash to buy BHP's assets, he added.

-By Linda Silaen; Dow Jones Newswires; 62-21 39831277; I-Made.Sentana@dowjones.com