PTBA eyes power plant projects in Myanmar

IDX-listed coal giant PT Bukit Asam Tbk is planning to invest in three coal-fired power plant projects in Myanmar as part of strategy to expand its coal export.

PTBA Corporate Secretary Adib Ubaidillah was quoted by kontan.co.id as saying Tuesday that the projects could have combined capacity of up to 1,000 MW.

He said that PTBA is currently in serious discussion with Myanmar?s state utility to develop the projects. He said, however, that as political condition in that country is still unstable, PTBA will only take minority interest in the projects.

Adib said that certainty over the Myanmar power plant projects can hopefully be obtained next year, so that construction process can be started in the coming two or three years.

Elsewhere, Adib said that PTBA is also looking to acquire equity stake in a power utility in Vietnam as part of expansion strategy into the Vietnam coal market.

?In Vietnam, we?ll only have equity participation. They (the Vietnam utility) will develop the project, while the coal will come from PTBA,? he said.

He said that the investment plans in Myanmar and Vietnam forms part of the company?s strategy to secure future long-term market for its coal. ?We have recently obtained coal supply contract to Vietnam of 1.5 million tons for 2018,? he said. (*)