EWC raises $100 million equity to finance LNG, power business

Australian firm Energy World Corporation Ltd. announced on Tuesday plan to raise A$100 million through placement of 200 million ordinary shares to a number of institiutional and sophisticated investors from Hong Kong, Australia and The UK.

The company said proceed from the placement would be used to finance the construction of a 1 MTPA LNG plant in its Sengkang PSC, South Sulawesi, expansion of its Sengkang power plant, also in South Sulawesi by another 65 MW and LNG terminal expansion.

EWC has 100 percent working interest in Sengkang PSC and 95 percent ownership in Sengkang power plant, which currently operates two power plant units with combined capacity of 135-MW. (alex)