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Bakrie Power takes over PLTU Tanjung Jati A.

BAKRIE POWER TAKES OVER PLTU TANJUNG JATI A. PT Bakrie Power has taken over development of the coal-fired power plant PLTU Tanjung Jati A, in Cirebon. Bakrie Power took over the 1,200 MW power project after the withdrawal of Tomen Power Corporation from Japan and International Power Plc from Britain. PT Bakrie Power president Ali Herman Ibrahim said originally the project was to be built by a consortium called Tanjung Jati Power Company that grouped Bakrie Power Tomen Power Corporation and International Power Plc and PT Maharani Paramitra. The two foreign partners withdrew after the consortium as an independent power producer (IPP) failed to strike price agreement with the state electricity company PLN which is to buy the power output. PT Maharani Paramitra, which is owned by Siti Hediati, a daughter of former president Suharto, and Bakrie Power each, had a share of 20% with Tomen and International each having a 30% stake. Construction of the power plant has been delayed for a year over difficulty in land procurement. Tanjung Jati A was originally to be built in Jepara, Central Java, but at last it was moved to Cirebon, where land is already available.

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Title Annotation:Corporate News in Brief; PT Bakrie Power
Comment:Bakrie Power takes over PLTU Tanjung Jati A.(Corporate News in Brief)(PT Bakrie Power )
Publication:Indonesian Commercial Newsletter
Article Type:Brief article
Geographic Code:9INDO
Date:Oct 1, 2010
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