Dian Swastatika ponders Jambi coal-fired power plant project

IDX-listed PT Dian Swastatika Sentosa Tbk (DSSA), a subsidiary of the well-diversified Sinar Mas Group, has been offered by a Japanese investor to participate in a 400 MW coal-fired power plant project in Jambi, Kontan daily reported Tuesday.

DSSA President Director Lay Krisna Cahya, however, said that his company has yet to decide on the offer. He declined to disclose the identity of the Japanese investor. The power plant project is expected to begin in the first quarter of 2014.

The offer comes after DSSA earlier pulled out from the tender process to develop the South Sumatra 9 and 10 coal-fired power plants with a combined capacity of 1,800 MW as the project requires a very huge investment.

DSSA is currently in the process of developing a smaller 2x150 MW coal-fired power plants in Musi Banyuasin Regency, South Sumatra, with total investment of US$400 million. The project is expected to be completed in 2015. (*)