"Our consortium will set up the joint ventures."Jakarta (ANTARA News) - State-owned coal mining firm PTBA, state-controlled power company PLN, and Malaysian Tenaga Nasional Berhad are planning to set up three joint venture firms, according to PTBA President Director Milawarma.
Milawarma stated here on Friday that the joint ventures were aimed at developing parts of the Peranap mining business in Semelinang Tebing, establishing a 2x600 MW steam power plant (PLTU) at the gate of the Peranap mining site, and building a submarine transmission network from Peranap to Malaysia.
He said the three joint venture firms were expected to be operational by the end of the year.
"Our consortium will set up the joint ventures. After the memorandum of understanding is signed, we will set up the joint ventures in six months' time," Milawarma added.
"PTBA will hold the majority share in the joint venture that will focus on the development of the mining area. We will have minority shares in the PLTU and transmission projects," he explained.
Regarding the investment needed to set up the joint venture firms, Milawarma said the consortium was still calculating it.
Some of the mining areas of PTBA in Pernap are being prepared to meet the PLTU's coal requirements. The volume of coal needed per annum for the 2x600 MW capacity PLTU is about 5-6 million tonnes.
"Some of the energy produced by the PLTU will be used for domestic consumption and the rest will be for Malaysia, which will be channelled through the submarine transmission networks," Milawarma said.
PTBA Pernap has a coal reserve of 792 million tonnes, with a weighted reserve of 367 million tonnes. This is a part of PTBA's total coal reserves of 7.29 billion tonnes and weighted reserves of 1.99 billion tonnes.
(Uu.A014/INE/KR-BSR/F001)
Editor: Priyambodo RH
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