AKR Corporindo to build two power plants
Monday, November 10 2014 - 01:12 AM WIB
IDX-listed PT AKR Corporindo plans to build two power plants at its industrial estate in Gresik, East Java, that are estimated to cost US$500 million, Bisnis Indonesia daily reported on Monday.
The paper quoted AKR Corporindo Director Suresh Vembu as saying that his company plans to form a joint venture to develop the two power plants, each with a capacity 2x300 MW.
Suresh did not say the fuel for the planned power plants. He also declined to disclose the would-be partner for the power plant project.
He, however, hopes that construction of the power plants, which will take about 3-4 years to complete, would start early next year.
Suresh said that his company was currently in the process of developing an industrial estate in Gresik, initially to cover an area of 800 hectares. (*)