Rukun Raharja eyes two power plant projects
Thursday, May 19 2016 - 06:05 AM WIB
IDX-listed PT Rukun Raharja Tbk is currently preparing documents to participate in the tender of two power plant projects including the 100 MW Jambi Peaker gas-fired and the 1,600 MW combined-cycle Jawa-1.
Rukun President Director Budiman Parhusip said that the company had passed the pre-qualification tender held by state-owned electricity firm PT PLN.
?Our focus now is on the Jambi Peaker and Jawa I (power plant projects). Our consortium is now preparing to submit tender documents,? he said on Wednesday.
Rukun is teaming up with PT Indonesia Power to win the Jambi Peaker project, which is estimated to require investment of US$130 million.
Meanwhile, in the tender for the Jawa-1 power plant project, in West Java, with estimated investment of $1.8 billion, the company is teaming with PT Pembangkit Jawa Bali.
Rukun on Wednesday also announced a 1:4 stock split in a bid to help improve the liquidity of its shares in the stock market.
Editing by Reiner Simanjuntak