PTBA Reveals Reasons For Transfer Of Management Of The Queen Port PLTU Not Completed

JAKARTA - PT Bukit Asam Tbk. (PTBA) revealed the reason for the transfer of the management of the Queen Port Steam Power Plant (PLTU) which has not been completed until 2024.

Director of PTBA Arsal Ismail said that the certainty of the PLTU acquisition is actually in the hands of the government through the Energy Transition Mechanizm (ETM) funding mechanism.

"Well, PTBA at that time was conducting a study on how if we were appointed to bridge the queen's port. We have done the study, but the ball is again in the government," said Arsal to the media when met after the Press Conference on PTBA's performance presentation in 2023, Friday, March 8.

For this reason, he ensured, this program could only run after obtaining certainty of cheap funds from the government.

Arsal also said that his party is still waiting for the government's cheap fund decision to continue the acquisition process.

Thus, until the decision was approved by the government, he stated that the acquisition project would not be continued.

"Until now, we have been waiting for it from the government, but until today we have stated that in the meantime we will not continue if we do not get special facilities," said Arsal.

Just so you know, the plan to inject dead PLTU in the country will receive low funding, one of which comes from the initiation of funding for developed countries, such as the United States and Japan in the Just Energy Transition Program (JETP).

Related to this, Arsal also said that there has not been a single funding to continue the Acquisition process, including from the Asian Development Bank (ADB).

"Not yet," concluded Arsal.