PGN expects to bag $88 M annually from S. Sumatra-W. Java gas pipeline
Tuesday, July 29 2003 - 06:57 AM WIB
State gas transmission and distribution firm PT PGN estimates to collect US$88 million per year from the charge on the planned South Sumatra-West Java gas pipeline, company president director WMP Simandjuntak told Petromindo.Com Tuesday.
?We will be able to garner $88 million from the project per year,? Simandjuntak said.
The 500-kilometer pipeline, which will link Grissik in South Sumatra to Cilegon in West Java, is scheduled to start operation in 2006, transmitting about 600 million cubic feet per day (MMCFD) of gas for power plants in West Java. The project will cost around US$500 million.
PGN is making preparations to build the gas pipeline including next week?s overseas road show to issue US$250 million of 10-year bonds. The bonds will be issued later this year. (godang)