By:
Ronnel W. Domingo - 05:05 AM August 14,
2017
Homegrown multinational
firm Altantic, Gulf and Pacific Co. (AG&P) has entered into a partnership
with a group of Indonesian firms on the development a $980-million liquefied
natural gas (LNG) terminal and power plant complex in Indonesia.
AG&P said in a statement
it signed a heads of agreement with PT Energi Nusantara Merah Putih (ENMP) and
a group of tenants in Bantaeng Industrial Park (Kiba), located in South
Sulawesi.
“AG&P is thrilled
to support this nationally important project in Bantaeng,” AG&P chief
financial officer Abhilesh Gupta said in a joint statement.
“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,” Gupta said.
The power plant project
is currently in the engineering phase and is expected to reach financial
closing within a year.
Once funding has been
secured, the proponents intend to start construction immediately. The modular
components of the terminal will be constructed at AG&P’s manufacturing
facilities in Batangas.
The regency—or
sub-provincial government—of Bantaeng is encouraging the development of
industrial-based areas like the Kiba as part of efforts to become one of the
largest nickel processing centers in the world.
Through two
subsidiaries, ENMP is the owner and developer of the planned integrated LNG
receiving terminal that will provide fuel for the 600-Megawatt power plant,
which will be the main provider of energy to the industrial park.
Further, this project is
intended to be developed into an LNG distribution hub for the central and
eastern regions of Indonesia.
No comments:
Post a Comment