Petrindo Groundbreaking 680 MW Power Plant in East Halmahera
JAKARTA - PT Petrindo Jaya Kreasi Tbk (CUAN) hereby announces that its subsidiary owned through PT Volta Daya Energi Indonesia (VDEI) namely PT Guna Darma Integra (GDI) today has carried out Groundbreaking to mark the start of construction of a 680 MW power plant project in the integrated industrial area Feni Haltim (FHT) Industrial Park, East Halmahera, North Maluku.
FHT Industrial Park is an integrated industrial area as part of the implementation of the Indonesian government's mineral downstream strategy to realize the potential for the development of an electric vehicle battery industrial center in the country.
The groundbreaking ceremony for the construction of this power plant project was attended by representatives from GDI, FHT, contractors, and several banks who will finance the power plant project, the estimated project value is estimated to reach 600 million US dollars (or equivalent to Rp. 10 trillion).
"This groundbreaking power plant project is Petrindo's commitment to contribute and play an active role in supporting the development of the electric vehicle battery ecosystem, as well as continue to increase added value for the energy sector and nickel industry in Indonesia. The construction of this power plant is part of Petrindo's long-term strategy which is in line with the Company's vision of creating sustainable value through mineral mining and energy activities," said Michael, President Director of PT Petrindo Jaya Kreasi Tbk, in his statement, Wednesday, February 4.
Petrindo is a holding company that carries out business activities in the mineral and energy mining sector through its subsidiaries. Petrindo focuses on three main business lines, namely Mining which includes thermal coal, metallurgical coal, and gold; Mining Services which provides integrated mining contract services and EPC services; and Infrastructure and Other Services which provides offshore supply base facilities and other infrastructure services, including power plants.