ABM Investama plans asset divestment
Thursday, September 29 2016 - 02:54 AM WIB
IDX-listed integrated coal mining firm PT ABM Investama Tbk plans to divest its asset to raise funds to help finance a power plant project, Bisnis Indonesia reported on Thursday.
The paper quoted ABM Corporate Secretary Ade R. Satari as saying that the company was looking to participate in a tender for the development of a 2x200 MW geothermal power plant project in Aceh.
Ade said that the company will team up with IDX-listed engineering and construction firm PT Pembangunan Perumahan Tbk in the project. He did not provide further details.
ABM through subsidiary PT Sumberdaya Sewatama plans to continue to build power plants in the country with a target to develop a total of 1,750 MW capacity by 2020, of which 1,506 MW will be fueled by coal. (*)