Bakrie, Kepco to build E. Kalimantan mine-mouth power plant
Thursday, March 25 2010 - 12:54 AM WIB
PT Bakrie Power, a unit of IDX-listed conglomerate PT Bakrie & Brothers Tbk will team up with South Korean power generator Korea Electric Power Corporation (Kepco) to develop 2x100 MW mine-mouth power plant in Sangatta.
Bakrie Power President Director Ali Herman Ibrahim was quoted by media that the JV will spend US$350-400 million to develop the project and Bakrie will assume 65 percent stake at the project.
The plant would be built in PT Kaltim Prima Coal mine which is owned by Bakrie?s affiliated company PT Bumi Resources Tbk.
Ali said construction will start in 2013 with completion seen in 2016.
The JV, he said, is currently negotiating power sales price with state electricity firm PLN, which will buy the entire output generated from the plant. (*)