Truba seeks US$600 million project

as published in Bisnis Indonesia daily newspaper

Monday, 14/12/2009 00:00 WIB

Truba seeks US$600 million project

JAKARTA: PT Truba Alam Manunggal Engineering Tbk plans to follow the tender of engineering, procurement, & construction (EPC) of PLTU Cilacap with contract value worth US$600 million.

The steam-based power plant (PLTU) here was formerly with 2 x 300 MW production capacity, but the State Electricity Company plans to double the power production capacity into 1,200 MW.

Corporate Secretary of Truba Alam Gamala Virasa Katoppo said as from the total contract value, the company as the EPC project operator could tap 8 percent shares of the total values or US$48 million.

The company has either aiming at mining EPC contract from Chevron Corp totally worth US$85 million. The project is located in Duri, Province of Riau, with appointment early next year. "We are waiting for the announcement of the client nomination."

In addition to the project here, he added the company has just got EPC project in PLTU Paiton 3 worth US$60 million within two years. The EPC project is deemed small part of the power plant constructions.

Gamala said the company plans to allocate some US$24-30 million for the capital expenditure for PLTU Bangka dan PLTU Pontianak.

PLTU Bangka has production capacity of 2 x 12 MW and PLTU Pontianak 2 x 30 mw. He said the capital expenditure is 30 percent of the total funds required by both PLTUs.

"The allotted funds are 70 percent of the financing, and the other 30 percent is from equity. So the total funding is aobut US$84 million." (Bisnis/21)