PTBA-led consortium wins retender of Banjarsari power project

State-owned coal miner PT Tambang Batubara Bukit Asam (PTBA) announced Monday Bukit Pembangkit Innovative (BPI), a consortium led by PTBA, had won retender of the project to develop a 2x100-megawatt Banjarsari power plant in South Sumatra.

PTBA said in a statement that state-owned electricity firm PT PLN issued the Letter of Intent for the project on Dec 6.

According to the statement, construction of the minemouth project will cost around US$ 270 million and it will require coal supply of around 1.2 million tons per year from PTBA?s mine.

The power plant is expected to start operation in 2009, PTBA said

PTBA also said about 70 percent of the project cost was expected to be sourced from external finance sources, while the remaining 30 percent would be provided by the consortium.

PTBA added it would own a 41 percent shareholding in BPI, while PT Pembangkitan Jawa Bali, a subsidiary of state-owned electricity firm PT PLN, and PT Navigat Innovative will hold 20 percent and 39 percent, respectively. (Robert)