Medco to sell part of interest at power plant unit
Monday, August 11 2008 - 03:19 AM WIB
IDX-listed energy firm PT.Medco Energi Internasional Tbk plans to sell minority stake at its electricity generation unit PT. Medco Power Indonesia to strategic partner.
The company said in a presentation posted in its website that financial advisor has been
Appointed and potential bidders identified. Closure is expected in the fourth quarter of 2008 or early 2009, it said.
Medco operates several power plants including Panaran 1 & 2 Power Plant in Batam (118 MW), Tanjung Jati B in Central Java (1,320MW) and Sarulla power plant project in North Sumatra (340MW). (denny)