Adhi Karya to build power plant in East Java

By Romel S. Gurky

IDX-listed construction company PT Adhi Karya Tbk and PT Terminal Teluk Lamong had on January 7 signed an agreement to form a joint venture that would develop a gas-fired power plant at the Teluk Lamong port in Gresik, East Java.

Adhi will hold a 49 percent stake in the joint venture company, called PT Lamong Energi Indonesia, while the controlling 51 percent stake will be held by Terminal Teluk Lamong.

Adhi said in a statement that the company would also participate in the construction of an 11 km mono-rail linking the Teluk Lamong container port with the Tanjung Perak port in Surabaya, the capital of East Java.

Editing by Reiner Simanjuntak