Having reached financial closing on its power plant project in March 2008, PT. Gorontalo Energi plans to complete project design and engineering work in June of this year to be followed by equipment procurement and project construction in Gorontalo province that is projected to be completed in December 2009.
PT. Listrik Nusantara Karimun having completed the feasibility study for its power plant project and entered into an engineering, procurement and construction (EPC) contract for the project in April 2008. The Environmental Impact Assessment (AMDAL) study is started on April and will be completed on June. Also on April, we will be negotiating with our lenders, so that the financial closing can be completed on May 2008.
Land acquisition for PT. Tanasa Power Energi Makmur’s Kendari power plant project having been completed, the company plans to secure its Public Electricity Generation License from Directorate General of Electricity and Energy Utilization by the end of May 2008 and negotiate and conclude a Power Purchase Agreement (PPA)with PLN by the end of August of this year so that project financial closing can be completed before the end of October.