PTBA to sign MoU with Myanmar later this year
Thursday, September 26 2013 - 01:16 AM WIB
IDX-listed coal mining giant PT Bukit Asam (PTBA) expects to be able to sign a MoU with the government of Myanmar in the fourth quarter of this year regarding the planned construction of a 600 MW coal-fired power plant in the Southeast Asian country.
?The signing of the MoU will be made once both parties are ready with everything. The government of Myanmar is currently preparing the contract, while PTBA is preparing the technology to be used, the source of coal, and funding,? explained PTBA President Director Milawarma to Petromindo.com Wednesday.
PTBA plans to team up with a local partner in Myanmar in developing the power plant project, but whose identity could not yet be disclosed by the company.
Milawarma could not yet give the exact estimate of the investment requirement for the project. ?What?s certain, we prefer the funding to come from domestic (Indonesian) consortium,? he said.
He added that the construction of the power plant would be carried out in two stages. ?The first stage will be the construction of a 2x100 MW. If successful, we?ll proceed with the second stage of 2x200 MW,? he said.
The power plant project is part of PTBA?s business expansion into Myanmar, which the company has started since early this year.
Editing by Reiner Simanjuntak