Sengkang gas field & power project update
Tuesday, February 20 2001 - 04:00 AM WIB
Energy Equity Corporation Ltd (EEC) is pleased to announce that agreement has been reached between PLN, the Indonesian Electricity company and PT Energi Sengkang, the operator of the Sengkang Power Project (PTES is owned 47.5% by EEC) with respect to its power project in Sulawesi, Indonesia.
This agreement includes a settlement of all outstanding issues, a revised tariff and an extension of the plant capacity from 135MW.
Formal documentation of this agreement is now in progress and is expected to be completed within the next few weeks.
Contact: EEC's Managing Director, Mr Stewart Elliott or EEC's Company, Secretary, Mark Lindsay, on 61 8 9366-4777.