Truba delays N. Sumatra, Bali IPP projects
Monday, February 9 2009 - 09:34 AM WIB
IDX-listed engineering and contracting firm PT.Truba Alam Manunggal Engineering Tbk said on Friday it had decided to delay development of three power plants in North Sumatra and Bali due to global economic meltdown.
The company said it had decided to delay construction of Paluh Merbau 2x150MW coal-fired power plant in North Sumatra, Karang Asem 2x135MW coal-fired power plant and Integrated Gasification Combined Cycle (IGCC) 330-MW project in Bali.
The company said global financial meltdown had caused difficulties to secure finding for the projects. The delay was also caused by the fact that the company had yet secured Power Purchase Agreement (PPA) with offtaker state electricity firm PLN.
The three projects are IPP-based power plants.(denny)