PP aims to conclude financial close of Aceh power project end 2017
Saturday, September 30 2017 - 02:25 AM WIB
IDX-listed construction and engineering company PT Pembangunan Perumahan Tbk (PP) aims to conclude by the end of this year the financial close of a 400 MW coal-fired power plant (PLTU) project in Meulaboh, West Aceh Regency, Aceh Province.
Director of EPC and Foreign Partnership at PP, Abdul Haris told Petromindo.com on Friday that once the financial close has been concluded, construction process of the estimated Rp 8 trillion project will start early next year. ?The power plant is targeted to start operation in 2020,? he said.
PP is teaming up with China Datang Overseas Hong Kong Co Ltd, and PT Sumberdaya Sewatama in the power plant project. The company signed a 25-year power purchase agreement with state-owned electricity firm PT PLN in May of this year.
Editing by Reiner Simanjuntak