PLN, Latoka agree on $3.5-million compensation for shutdown of power plant
Monday, May 19 2003 - 03:34 AM WIB
State electricity firm PLN and PT Latoka Trimas Bina Energy have agreed on a $3.5-million compensation for the shutdown of Kamojang geothermal project in West Java, Bisnis Indonesia daily reported Monday.
?We have agreed on a $3.5 million compensation for the shutdown of the Kamojang project,? the paper quoted as saying PLN?s chief negotiator Djuanda Nugraha.
Latoka had initially demanded compensation of $8 million, Djuanda said over the weekend. The company had told them that it had spent $7 million on the power project, he added.
The project, planned to generate a 2x30 MW of electricity, was among of the 27 power projects suspended in 1998 after severe economic crisis hit Indonesia. (*)