Adaro, Chinese firm to build power plant

Coal miner Adaro Energy and China Shenhua Overseas and Development Co., Ltd. Will team up to develop a 2×300 megawatt mine-mouth coal-fired power plant in Adaro’s coal mine in East Kalimantan.

The Memorandum of Understanding (MoU), according to a written statement posted in the Indonesia Stock Exchange (IDX) website on Tuesday, was signed in Jakarta last Friday by representatives from China Shenhua and Adaro’s subsidiaries Adaro Power (AP) and Bhakti Energi Persada (BEP).

“The Parties agreed to develop a joint project on coal and power plants in East Kalimantan. The Parties intend to establish a joint venture in Indonesia to develop mine mouth coal fired power plants, which will likely be owned 51 percent by Shenhua Overseas and 49 percent by AP,” the statement explained.

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Posted November 28, 2014 by repit in News

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