GEMS: New unit to participate in power projects
Friday, June 26 2015 - 06:52 AM WIB
IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS) said that its newly set up coal trading subsidiary PT GEMS Energy Indonesia will participate in power plant development in the country.
GEMS President Director Fuganto Widjaja told Petromindo.com last week that GEMS Energy will participate in the development of mine mouth power plants particularly those located near the parent?s mines through consortium either led by affiliated IDX-listed PT Dian Swastatika Sentosa Tbk or other companies.
GEMS announced in May it has set up GEMS Energy, which is 99 percent owned by the company, and the remainder 1 percent stake held by its subsidiary PT Roundhill Capital Indonesia.
Editing by Reiner Simanjuntak