ENMP to complete land acquisition for power plant project this year
Wednesday, October 18 2017 - 01:31 AM WIB
Private power company PT Energi Nusantara Merah Putih (ENMP) hopes land acquisition for its 600 MW combined-cycle power plant (PLTGU) project at the Bantaeng Industrial Zone in South Sulawesi Province is expected to be concluded by the end of this year.
?Over the past two months, we have been dealing with the land acquisition process. We have yet to conclude it, there are three remaining strategic points that are being evaluated. The target is to conclude it by the end of the year,? said ENMP President Director Westana Wiraatmadja to Petromindo.com on Tuesday.
He said that the company requires 40 ha of land near the shore for the power plant project, an LNG receiving facility, and a jetty. The land requirement is actually 28 ha, but the company wants to secure the extra acreage for future expansion.
As has been previously reported, ENMP signed in February of this year MoU with China?s Sinland Development Pte Ltd to develop the PLTGU project, which will be integrated with a floating storage and regasification unit to be developed by ENMP?s subsidiary PT Pasifik Agra Energi.
The estimated US$980 million power plant project will be 70 percent funded by bank loans. Financial close is expected to be reached in 2018, and the project is targeted to be completed in 2021.
Editing by Reiner Simanjuntak