Aug 5, 2011

Dian Swastatika to invest US$400 mio

PT Dian Swastatika Sentosa Tbk (DSSA), coal mining and power plant owned by Sinarmas Group, aims to put a US$400 million investment into mouth mine power plant in South Sumatra 5 project.
Corporate Secretary Herman Tarjono said a consortium of Dian Swastatika, consisting of the company and its coal unit PT Golden Energy Mines, has secured a mandate from the state-controlled electricity company as preferred bidder to construct the mouth mine power plant project with capacity of 2x150 MW. 
"We will use internally generated cash flow and bank loan facility to support the investment," said Herman in an official statement submitted to Indonesia Stock Exchange today.
The consortium is underway to sign a power purchase agreement with PLN regarding to the power plant project. The construction of the project is estimated in 2012 until 2015. Dian Swastatika is a company that is controlled Fuganto Widjaja, son of Sinarmas's owner Indra Widjaja.

Disclosure: No position at the stock mentioned above.

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2 comments:

Anonymous said...

It is a mistake to have this group do any project. It will always be cheap and nasty with PLN be being the biggest loosers.

Insider Stories said...

Let's see what is coming out from this Group...