JAKARTA. Numbers of issuers are pursuing revenues from electricity projects this year. PT Tambang Batubara Bukit Asam (PTBA) expects to continue the project of Steam Electric Power Plant (PLTU) South Sumatera 8 Mine Mouth. The US$1.6 billion worth of power plant can generate 2x620 megawatt (MW) electricity power.
PTBA is now waiting for the revision on agreement of the installment of undersea Sumatera-Java high voltage direct current (HDVC) between PTBA and State Power Company (PLN).
According to Corporate Secretary of PTBA Adib Ubaidillah, the revision will focus on the delivery of letter of intent of HDVC from PLN to PTBA. The revision will relax the development process of PLTU South Sumatera 8.
Adib said that the company has prepared amount of capitals to fund the project. PTBA gained US$1.2 billion funds from its subsidiary PT Huadian Bukit Asam Power (HBAP) and The Export-Import Bank of China (CEXIM). Adib added that the electricity projects will increase PTBA revenues in long term basis.
Previously, Main Director of PTBA Arviyan Arifin said that in 2017 PTBA needs US$500 million capital expenditure, or higher than the need for capital expenditure 2016. PTBA will allocate 60% of the capital expenditure to inject equities to electricity projects of the company.
This year, PTBA only absorbs US$300 million to US$400 million of capital expenditure. According to Adib, PTBA will also speed up the work on Steam Electric Power Plant (PLTU) of ferronickel factory owned by PT. Aneka Tambang Tbk (ANTM) in East Halmahera.
Aside of PTBA, PT Dian Swastika Sentosa Tbk (DSSA) owned by Sinarmas Group will also expand the business to electricity project. DSSA will soon start the groundbreaking the project of Steam Electric Power Plant (PLTU) Kendari 3 that has 2x50 MW capacity. It is expected that the US$200 million worth of project will start in 2019.
DSSA received US$150 million of term loan from Chine Development Bank Corporation (CDBC) from DSSA’s subsidiary PT DSSP Power Kendari to fund the peoject of steam electric power plant that is located in Konawe Regency in South East Kendari.
Director and Secretary of DSSA Hermawan Tarjono said that every year the project will consume 500,000 tons of coal, which will be supplied by another DSSA’s subsidiary PT Golden Energy Mines Tbk (GEMS). “DSSA has conducted the engineering, procurement, and construction processes for the project. The loans will be disbursed gradually following the progress on power plant development”, Hermawan said.
Currently, DSSA is nearing the completion of a 2x150 MW of power plant project in South Sumatera 5. “We are now targeting other power plant projects,” Hermawan said. DSSA expects that the power plant projects revenue will contribute 20% to the total company’s revenue in 2017, increase from 5%. (Translator: Muhammad Farid)
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