Dec 29, 2010

PTPP acquires Sepoetih Daya Prima

The national construction and state-owned company PT Pembangunan Perumahan (Persero) Tbk (PTPP) has acquired 49% of PT Sepoetih Daya Prima shares, the owner of a 2x7 mega watt (MW) and 2x30 MW power plant (PLTU) in Center Lampung.
President of PTPP Musyanif said by purchasing the 49% shares, PP has successfully managed to realize investment in power plant business.
Sepoetih Daya Prima is a company that secured a power purchase agreement (PPA) with PT Perusahaan Listrik Negara (Persero) to build a 2x7 MW power plant that can be developed to 72 MW in Center Lampung.
“Investment in power plant is a way to diverse our business field which is expected to add company revenue and construction profit and to be the new recurrent income source when it begins operating in 2012,” as he said, yesterday.
The 2x7 MW  and 2x30 MW power plants project might take IDR930 billion and will start in the first quarter of 2011. At the moment, the power plant project is in the process of engineering, procurement, and construction.

Disclosure: No position at the stock mentioned above.

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