Truba-KS joint venture eyes power projects

IDX-listed firm PT Truba Alam Manunggal Engineering, one of the country?s major engineering companies involved in the construction of power plants, will form a joint venture with state-owned steel company PT Krakatau Steel to provide operational and maintenance services to newly built power plants, Kontan reported on Saturday.

The two companies signed on a memorandum of understanding (MoU) on Friday on the establishment of the joint venture.

Truba?s President Director Sidarta Sidik said following the signing of the MOU that the joint venture would be formally established within the next three months. ?We are still negotiating our respective share ownership in the joint venture,? he said.

He said that the joint venture planned to provide operational and maintenance services to coal-fired power plants currently being built by state-owned electricity company PT Perusahaan Listrik Negara (PLN) under 10,000 MW program.

Truba is currently taking part in the tender for the operation and maintenance of PLTU Tanjung Jati C and PLTU Tanjung Jati D coal fired power plants being built by PLN. (*)