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		07/16/12
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<h3 id="NewsPostDetailTitle">Genting subsidiary to build power plant in Indonesia  </h3>

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		Category: Industry News
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	<p style="text-align: justify;">Genting Bhd’s subsidiary will build a US$1bil (RM3.19 bil) coal-fired power plant in Banten province, West Java, Indonesia.</p>
<p style="text-align: justify;">In a statement to Bursa Malaysia, Genting said the 660MW project would be undertaken on a build, own, operate and transfer basis for 25 years, following which the Banten plant shall be transferred to the Indonesian state-owned electricity company, PT PLN (Persero), for a nominal sum.</p>
<p style="text-align: justify;">The power plant is expected to commence commercial operation in 2017.</p>
<p style="text-align: justify;">Persero had signed a 25-year power-purchase agreement with PT Lestari Banten Energi (LBE), a 95%-owned subsidiary of Lestari Listrik Pte Ltd, which is an indirect wholly-owned subsidiary of Genting.</p>
<p style="text-align: justify;">The 5% equity in LBE is held by PT Hero Inti Pratama, Lestari Listrik's Indonesian partner for the project.</p>
Adapted from StarBiz 11 July 2012
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MIDA e-News

07/16/12

Genting subsidiary to build power plant in Indonesia

Category: Industry News

Genting Bhd’s subsidiary will build a US$1bil (RM3.19 bil) coal-fired power plant in Banten province, West Java, Indonesia.

In a statement to Bursa Malaysia, Genting said the 660MW project would be undertaken on a build, own, operate and transfer basis for 25 years, following which the Banten plant shall be transferred to the Indonesian state-owned electricity company, PT PLN (Persero), for a nominal sum.

The power plant is expected to commence commercial operation in 2017.

Persero had signed a 25-year power-purchase agreement with PT Lestari Banten Energi (LBE), a 95%-owned subsidiary of Lestari Listrik Pte Ltd, which is an indirect wholly-owned subsidiary of Genting.

The 5% equity in LBE is held by PT Hero Inti Pratama, Lestari Listrik's Indonesian partner for the project.

Adapted from StarBiz 11 July 2012

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