PTBA to supply coal to affiliate company
Wednesday, April 12 2006 - 02:18 AM WIB
PTBA in an announcement posted in national media on Wednesday said that it would sell its coal to the joint venture that would operate the power plant for US$13.5 per tonne.
PTBA has 41 percent stake in Banjarsari project while PLN?s subsidiary PJB and Navigat Innovative Indonesia own 20 percent and 31 percent, respectively. The consortium is currently in the process of forming JV company to operate the project and to sign power purchasing agreement with PLN.
The electricity produced would be sold to PLN at US3.87 cent per kwh, said PTBA. The power plant is expected to be completed in 2008 or early 2009.
The company said that the project would cost the JV US$224 million with 70 percent of the amount to be financed by external funding. (alex)