China Power Investment Corp. to invest 17 bln USD in power projects in Indonesia

China Power Investment Corp., one of China’s largest state-owned firms, has committed to investing 17 billion US dollars in hydropower plant projects in North Kalimantan of Indonesia, an Indonesian minister said on Monday.

Indonesian Energy and Mineral Resources Minister Jero Wacik made the statement after meeting with Vice President of the firm Xia Zhong at his office.

The Chinese firm hoped to start the projects next year, at least the ground breaking, according to Wacik.

The minister said that the hydropower station with a designed capacity of 7,000 megawatt would generate electricity by using the water in Kayan river.

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Posted May 28, 2013 by repit in News

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