Itochu interested to acquire stake in Sarulla power plant project
Tuesday, February 10 2004 - 06:43 AM WIB
State electricity firm PLN said on Tuesday that Japan?s Itochu Corp. is interested to form joint venture with PLN to operate Sarulla geothermal power plant project in North Sumatra.
?Talks are still at early stage,? said PLN director Ali Herman Ibrahim, refusing to reveal further detail.
PLN is currently finalizing the purchase of Sarulla power plant project from US energy firm Unocal Corp. PLN had agreed to buy the project from Unocal for US$ 60 million last year.
The Sarulla project was postponed by the government in 1998 due to the Asian financial crisis. The plant was originally planned to be a 110-megawatt (MW), expandable to 390 MW.(godang)