OR WAIT null SECS
Lotte Engineering & Construction announced recently that it won a US$230-million project to build a gas-fueled combined-cycle thermal power plant in Indonesia. The 501MW power plant will be located in a site 75 kilometers east of Surabaya in East Java.
Commissioned by PT PLN (Perusahaan Listrik Negara), the state-run electricity monopoly, the Grati Combined Cycle Power Plant Extension Project will be financed by the electric power company's own funds (30%) and loans from financial institutions (70%) including those of Korea EximBank.
Lotte E&C will undertake the EPC (engineering, procurement, and construction) project jointly with the international trading unit of Samsung C&T and PT Hutama Karya in building gas-turbine and steam-turbine plants and 500-kV power substations at the cost of $260 million.
The actual construction will commence at the end of this year when loan negotiations would be closed and take about 26 months to complete. The latest project is part of a wider energy resource development program pushed for by the nation's Joko Widodo administration to build 35GW capacity.