Sri Rejeki delays power plant project
Thursday, November 12 2015 - 01:26 AM WIB
IDX-listed textile maker PT Sri Rejeki Isman Tbk has decided to delay a planned US$100 million power plant project after the government recently announced electricity tariff reduction for industries, Bisnis Indonesia reported on Thursday.
The paper quoted Sri Rejeki Finance Director Isman Allan Moran Severino as saying that the company is currently reviewing the power plant project.
As has been reported by this portal in August, Sri Rejeki plans to build a 60-70 MW power plant in Sukoharjo, Central Java, that would be fueled by gas and coal.
The company plans to issue bonds worth up to US$420 million, part of which to be used to finance the power plant project. Construction was initially expected to start in the second semester of next year. (*)