PI Energi signs MoU to acquire W. Sulawesi power plant
Saturday, August 19 2017 - 03:17 AM WIB
Power company PT Pupuk Indonesia Energi (PI Energi), a subsidiary of state-owned fertilizer firm PT Pupuk Indonesia, plans to acquire PT Rekind Daya Mamuju (RDM), which is in the process of completing a 2x25 MW coal-fired power plant (PLTU) project in Mamuju, West Sulawesi Province.
PI Energi President Director Tentaminarto Tri Februartono said that the acquisition forms part of efforts to help ensure electricity supply for its fertilizer production.
PI Energi signed on Friday a MoU with RDM, a subsidiary of state-owned engineering company PT Rekayasa Industri for the proposed acquisition of up to 51 percent shares in RDM. ?The acquisition process is in progress. We can?t disclose yet the acquisition value,? he said, adding that the acquisition is expected to be completed in early 2018.
Tenta said that the Mamuju power plant is currently under construction. The first unit is expected to start operation in December, while the second unit in the first semester of 2018.
He added that PI Energi is also currently in the process of completing the 22 MW Gresik Gas Cogeneration Power Plant (GGCP) project in East Java, hopefully in November of this year, to meet rising electricity and steam requirement of its fertilizer plant in Gresik.
Editing by Reiner Simanjuntak