Pasukhas to acquire Sulawesi power plant
Thursday, June 15 2017 - 12:09 AM WIB
By Alexander Ginting
Malaysian firm Pasukhas Group Berhad announced on Tuesday that its wholly-owned subsidiary, Pasukhas Energy Sdn Bhd had on 12 June 2017 entered into an Approval Letter with PT. Bangun Daya Perkasa in expressing interest in acquiring a 92.5% stake in PT Tenaga Listrik Gorontalo (TLG).
Currently TLG is operating a 2 x 12.5MW coal fired power plant in Gorontalo province.
Under the deal Pasukhas would pay US$100,000 deposit and carry out due diligence on PT TLG?s financial report and legal status within 3 months from the signing of the Approval Letter.