Indonesia to build $ 150 mm power plant on East Kalimantan

Jan 21, 1997 01:00 AM

Indonesian conglomerate Bimantara Citra PT signed an agreement to build a $150 million power plant in East Kalimantan province with US company Vico and Indonesian firm, Imeco. "We expect to start building the plant in 1998 and expect it to start producing commercially from 2000," Joseph Dharmabrata of Bimantara's infrastructure division told. Dharmabrata said the joint-venture firm was expected to supply power to state-owned electricity company PLN. He said Bimantara had a 60 % stake in the joint venture. Virginia Indonesia Company Oil (Vico) and Industrial Machinery Equipment Company (Imeco) each had 20 %. The plant will be in Balikpapan, capital of East Kalimantan on the Indonesian side of Borneo island.

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