Sumitomo offers to take over Tanjung Jati B power project

Coordinating Minister for the Economy Rizal Ramli said on Friday Japanese construction firm Sumitomo Corporation was interested to take over the stalled Tanjung Jati B power project in Jepara, Central Java.

The project, which is now under construction, is owned by PT HI Power Tubanan, which is a joint venture between Hong Kong-based Hopewell Holdings Ltd (80 percent) and local firm PT Inpa Energy Co (20 percent).

HI Power Tubanan has long offered state electricity company PT PLN and the Indonesian government to buy the 1,320 Megawatt (MW) coal-fired power project.

Rizal said the Cabinet's team for power projects was still studying Sumitomo's proposal, especially with regards the price for the takeover. (*)