State-builder PP, better known as PTPP, plans to invest Rp 60 trillion ($4.5 billion) in electricity power plant generation projects until 2020, its chief said recently.
The builder, which has been one of the major players in Indonesia’s construction, sector plans to develop power plants with a total capacity of up to 4,000 MegaWatts in the next four years, its president director Tumiyana said.
In a bid to realize its ambition, PTPP has set a target to invest in 1,200 MW power plants next year.
The company is eyeing a tender project from state utility company Pursahaan Listrik Negara for a gas-fired power plant.
The company is eyeing to secure a tender project from the nation’s utility company Perusahaan Listrik Negara, especially for gas-fired power plant.
“We will seek strategic partners to establish a consortium to undertake tenders for power generation projects,” Tumiyana said.
PTPP currently operatesa 65 MW gas-fired power plant in Talang Duku, South Sumatra, and a 2×7 MW coal-fired plant in the Lampung province. The firm is currently bidding for a 2×200 MW coal-fired plant in Mulaboh, Aceh.
“We want to invest more in gas-fired power plants. The proportion of gas-fired plants may make up about 30 percent of the total power plants [to be developed],” Tumiyana said.
The firm plans to spin off its unit handling energy-related businesses into a separate limited liability company PP Energi.
Once the spin off is complete, the subsidiary is targeted to hold an initial public offering by
After a spin off completed, this planned subsidiary is targeted to hold an initial public offering by the fourth quarter of 2016, with a target to raise up to Rp 4 trillion in proceeds from the share sale.
PTPP was previously known as Pembangunan Perumahan, before the company changed its legal name into an abbreviated version.