Astra, Mitsubishi, CLP to jointly bid for C. Java power project

A unit of PT Astra International, the country?s largest automotive retailer, plans to bid for the construction of a US$1 billion power plant in collaboration with Mitsubishi Corp. and CLP Holdings Ltd., marking its first foray into the power sector, Bloomberg reported.

The coal-fired plant in Central Java will have a capacity of 1,200 megawatts, said Angky Tisnadisastra, president director of Astra unit PT Astratel Nusantara.

Astratel expects to bid for a stake of less than 50 percent in the project, said Tisnadisastra. The rest would be held by One Energy Limited, a joint venture between Japan?s Mitsubishi and CLP of Hong Kong, he said in a phone interview in Jakarta on Friday. (*)