Exploitasi Energi to build new power plants
Friday, December 7 2012 - 02:16 AM WIB
CNKO?s chief executive officer Henry Sitanggang said in Jakarta on Thursday that the company would name a financial advisor next year to help prepare and arrange the bond offering. ?We have not yet decided whether we will issue rupiah or US dollar bonds,? he said.
He said that the company would begin to invest about $400 million next year to increase the company?s power generation capacity to 300 megawatt. At present, the company operates a coal-fired power plant with capacity of 2 x 17 MW in Pangkalan Bun, Central Kalimantan.
Henry said that the company planned to build one more coal-fired power plant with a capacity of 2 x 50 MW in Pangkalan Bun next year. The construction is scheduled for completion in 18 months.
In addition, CNKO will also build three mini hydropower plants with a capacity of 2 x 3 MW each in West Java and West Sumatra. At present, the company is building two coal-fired power plants in Rengat and Tembilahan, each with a capacity of 2 x 6 MW. The two power plants are expected to begin operation in the fourth quarter, next year.
Henry said that CNKO was also interested in building a mine-mouth power plant with a capacity of 2 x 300 MW in South Sumatra. The company will team up with Huadian Power International Corporation Limited of China and two local companies to build and operate the power plant.
CNKO sells all of its electricity production to PLN.
Meanwhile, the company secured shareholders? approval during during an extraordinary shareholders on Thursday to sell 4.7 billion new shares in right issue to be carried out this month.(*)