Adaro hopes financial close of S. Kalimantan power plant project in Q4
Tuesday, November 1 2016 - 04:38 AM WIB
IDX-listed coal mining firm PT Adaro Energy Tbk said it now expects to complete financial close of the planned 2x100 MW coal-fired power plant project near Tanjung, South Kalimantan Province, in the four quarter (Q4) of this year.
The company previously said that the financial close was expected in the third quarter ending September.
?We have started the earth works and foundation piling for this power plant,? the company said in a statement on Monday.
The power plant project will be developed by PT Tanjung Power Indonesia, in which Adaro through subsidiary PT Adaro Power owns a 65 percent stake, while PT EWP Indonesia, a subsidiary of Korea East-West Power Co., Ltd, holds the remaining 35 percent.
Editing by Reiner Simanjuntak