UT signs JV agreement to develop, operate power plant
Tuesday, February 14 2017 - 01:15 AM WIB
IDX-listed heavy equipment and coal mining firm PT United Tractors (UT) Tbk announced that its subsidiary PT Unitra Persada Energi had on February 9 signed shareholders agreement with Netherland?s KP Power Development B.V. and Japan?s Sumi Energy Ventures LLC to form a joint venture company called PT Bhumi Jati Power (BJP).
UT said in a statement on Monday Unitra holds a 25 percent stake in BJP, Sumi Energi 50 percent, and the remaining 25 percent held by KP Power.
BJP is engaged in the development and operation of 2x1,000 MW ultra-supercritical power generating units under a BOT scheme in the area of Tanjung Jati B coal-fired power plant unit 5&6 in Central Java Province, the statement said.
Editing by Reiner Simanjuntak