(The Philippine Star) | Updated August 14, 2017 - 12:00am
MANILA, Philippines -
Philippine-based Atlantic, Gulf and Pacific Company (AG&P) has bagged
the contract to build and operate a liquefied natural gas (LNG) receiving
terminal in eastern Indonesia.
The company will
participate in the landmark project through the development, construction and
operation of the LNG receiving terminal.
The terminal is owned
by Indonesia-based PT Energi Nusantara Merah Putih (ENMP) through subsidiaries
PT Pasifik Agra Energic, which will provide natural gas for the 600-megawatt
(MW) combined-cycle power plant in Bantaeng, South Sulawesi.
On the other hand, the
power plant owned by PT. Power Merah Putih will provide electricity supply to
Bantaeng Industrial Park (KIBA).
The LNG terminal and
power plant have an estimated total investment of $980 million.
“The integration of
this project will allow the KIBA supporting industries to accomplish the
construction of the LNG receiving terminal immediately. This is a crucial part
of the 600MW power plant itself, which will start operations by mid-2021,” ENMP
president director Westana H. Wiraatmadja said.
AG&P will focus on
the design, engineering, construction and operation of the LNG receiving
terminals at KIBA. The modular components of the terminal will be constructed
at its state-of-the-art manufacturing facilities in Batangas.
“AG&P is thrilled
to support this nationally important project in Bantaeng. We look forward
in short order to LNG being available for the power plant and to industry and
consumers throughout Southern Sulawesi and nearby regions. AG&P will
work hard to achieve this goal,” AG&P chief finance officer and commercial
head Abhilesh Gupta said.
The project is in the
engineering phase and is expected to reach financial close within one year,
followed immediately by the construction of the LNG terminal and power
plant.
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