Bukit Asam to expand into Myanmar

IDX-listed PT Bukit Asam Tbk (PTBA) will spend up to Rp 800 billion (about US$80 million) to finance its business expansion project in Myanmar , Investor Daily reported on Saturday.

The company?s Corporate Secretary Joko Pramono said in Jakarta Friday that the expansion projects in Myanmar would include the construction of a coal-fired power plant, which would become the largest coal-fired power plant in the country.

?The power plant will have a capacity of 2 x 20 megawatt (MW). An advance team has begun a research work for the project,? he said. The coal producer will join several other state owned companies to take the advantage of the growing business activities in the country.

At least 15 state companies have also unveiled their plans to expand into Myanmar . They include State electricity company PT Perusahaan Listrik Negara (PLN), tin miner PT Timah , PT Garuda Maintenance Facility (GMF), Bank Negara Indonesia (Persero) Tbk and PT Semen Indonesia . (*)