Resource Alam to import power turbine from Austria

IDX-listed coal mining firm PT Resource Alam Indonesia Tbk will import power turbine worth around 2.13 million pounds from Austria for its 2x3.2 MW micro hydro power plant project in Citatih, Sukabumi, West Java Province.

Kontan quoted Resource Alam Finance Director Agoes Soegiarto as saying Thursday that construction of the estimated US$14.2 million power plant project is still in progress.

He is optimistic that the project could be completed in 2018 despite current rainy season that has become an obstacle for the company from speeding up the project.

This portal last year quoted Chandra Yapri, Development Manager of PT Bias Petrasia Persada, an indirect subsidiary of Resource Alam, which develops the power plant project, as saying that the project was targeted to be on stream in 2017.

This portal also reported last year that the company was seeking loan facility from Germany?s Landes Bank Baden-Wurttemberg (LBBW) to help finance the power plant project, which will become Resource Alam?s stepping stone in diversifying into power generation business.

Resource Alam owns Bias through its 99.9 percent subsidiary PT Khatulistiwa Hidro Energy, which was acquired in June of 2015. Bias has signed a power purchase agreement with state-owned electricity firm PT PLN for the supply of electricity for 15 years starting 2018.

Elsewhere, Kontan said that Resource Alam has set coal production target this year at 4.5 million tons in line with the completion of a number of infrastructure facilities. No comparative figure for last year was provided. (*)