INSIDER HEADLINE: Adaro eyes up to $4 billion power plant project in South Sumatra - Kontan
Coal miner Adaro Energy is participating in a power plant project in South Sumatra province, Kontan newsportal reported Thursday.
The 3×600 megawatts project is estimated to cost up to $4 billion. Adaro President Garibaldi Thohir was quoted as saying that it will tap huge foreign interests by setting up a consortium.
A consortium of Adaro and Japanese firms Itochu and JPower has won a tender to construct 2×1,000 megawatts of power plant in Central Java province. The project is estimated to cost up to $4 billion and expected to come onstream in 2017.
On top of that, Adaro may start kick off 2×100 megawatts power generating project in South Kalimantan province this year, dependant on pending negotiations with state electricity firm PLN.
