Malaysia?s Genting Bhd. confirms bid for Java Power
Wednesday, September 3 2003 - 04:08 PM WIB
Malaysian company Genting Bhd. Wednesday confirmed it is bidding for a stake in Indonesia?s PT Jawa Power.
In a statement to the Kuala Lumpur Stock Exchange, the company said it has been shortlisted to make a final binding offer for U.K.-based utility company Powergen ?s 35 percent stake in PT Jawa.
?Genting is seeking to assemble a consortium to submit the final binding offer,? it said, without elaborating.
Jawa Power, an Indonesian independent power producer, operates a 1,200-megawatt Paiton II coal-fired plant in East Java. Jawa Power is owned by Siemens of Germany (50%), Powergen of UK (35%) and PT Bumipertiwi Tatapradipta of Indonesia (15%).(alex)