Adhi Karya to Invest Rp 2.7 Trillion in Joint Ventures of Power Plants

State-owned construction company Adhi Karya will spend Rp 2.7 trillion ($278 million) to establish two joint ventures to build power plants for the country’s electricity generating monopoly.

Jakarta-based Adhi Karya will ally with the East Java unit of state-owned power producer Perusahaan Listrik Negara, Adhi Karya chief executive Kiswodharmawan said this past weekend. He declined to give details on the second joint venture.

The announcement comes after the company wrapped up a two-year effort to raise Rp 2 trillion of debt last month through sales of corporate bonds in part to position the company to vie for an increase in spending for the construction and expansion of the country’s seaports, roads and airports.

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Posted April 26, 2013 by repit in News

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