Astra teams up with Tata Power

IDX-listed auto conglomerate PT Astra Internasional Tbk is teaming up with India?s largest power company Tata Power to develop power plant projects in Indonesia, Investor Daily reported Friday.

Astra through subsidiary PT Astratel Nusantara has set up a 50:50 joint venture company with Tata Power to develop power plant projects in the country. Astra Deputy Director Paulus Bambang was quoted as saying that the joint venture company is participating in a tender to develop a 2x100 MW coal-fired power plant.

Paulus said that Astra decided to team up with Tata Power because the company does not yet have the expertise in the electricity business, which forms part of Astra?s business portfolio in the infrastructure sector which also includes toll road, port development, and real estate. (*)