Construction of PLTU Tanjung Jati A project to start mid-2017
Saturday, November 26 2016 - 03:15 AM WIB
IDX-listed PT Bakrie and Brothers Tbk (BNBR), which is engaged in infrastructure, engineering, and manufacturing of pipelines and industrial products, said that construction of the planned 2x660 MW PLTU Tanjung Jati A coal-fired power plant in Cirebon, West Java, is expected to start in the middle of next year.
?Construction is expected to start in the middle of next year,? said Bobby Gafur Umar, President Director of BNBR on Friday.
He said that acquisition of required land for the estimated US$2.4 billion power plant project is nearly completed. He said that construction will take about 34-40 months to complete.
BNBR has 20 percent interest in the project, while the controlling 80 percent stake is held by YTL Jawa Energy BV, a subsidiary of Malaysia?s YTL Corporation Berhad.
Bobby said that the Malaysian firm will take a leading role in securing the required financing for the project.
He added that BNBR expects the power plant project to have at least 30 percent local content, where the company has extensive experience in providing components for infrastructure projects.
Editing by Reiner Simanjuntak