Federal says EPC contract for Bintan power plant project terminated
Thursday, May 21 2009 - 10:31 AM WIB
Singapore Exchange-listed firm Federal International (2000) Ltd reported on Thursday that a an EPC contract commissioned by PT.Tenaga Listrik Bintan (TLB) to build a 4x12MW coal-fired power plant in Tanjung Pinang, Bintan Island, was terminated as a result of breach of contract by TLB.
The company said TLB was not in compliance with certain terms and conditions in the contract. It did not give further detail.
The company?s wholly-owned subsidiary Federal Hardware Engineering Co Ltd in consortium with PT SSE-Van Der Horst Indonesia, have been awarded an EPC contract to build the power plant in March 2008 with the value of US$42 million. (alex)