AKR to Spend $1.5b on 2 New Power Plants

Fuel and chemical distribution company AKR Corporindo plans to build power plants with a capacity of up to 1,200 megawatts at its industrial estate in Gresik, East Java, which will cost a total investment of between $1 billion and $1.5 billion, a top executive at the company said.

AKR president director Haryanto Adikoesoemo, announced construction will commence next year to support the Gresik industrial estate called Java Integrated Industrial and Ports Estate (JIIPE), which the company partly owns.

The project will involve one coal-fired and one gas-fired power plant, both of which will come with two turbines that each has a capacity of 300MW.

JIIPE is a 1,700-hectare industrial and port estate that is still being developed and  will cost a total of $520 million.

Construction is projected to reach completion in 2020-2022. The first phase of development, which covers an area of 870 hectares, began earlier this year.

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Posted December 1, 2014 by repit in News

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