Take Over PLTU Pelabuhan Pelabuhan Ratu Milik PLN, PTBA: All Still Processing And Non-Disrupt Cashflow

PLTU Pelabuhan Ratu. (Photo: Doc. Antara)

JAKARTA - President Director of PT Bukit Asam Tbk (PTBA) Arsal Ismail revealed that his party will apply the precautionary and prudent principles in carrying out the planned acquisition of the Queen Port Steam Power Plant (PLTU) owned by PT PLN.

"PTBA is very careful and very prudent. This is just the Principal Framework Agreement (PFA) and we will continue this process to follow our rules both as an open company and our internal regulations," he said at a press conference on the performance of Bukit Asam in the third quarter of 2022. online, Thursday 27 October.

Arsal explained, in this PFA, his party only discussed the framework for the transition of PLTU, detailed analysis of technical matters and discussing economics, analysis of feasibility and also discussion of blending financing which will be facilitated by the Ministry of State-Owned Enterprises (BUMN). "Everything is still in process," he added.

He hopes that this acquisition process will bring positive benefits to both parties. Arsal admitted that until now he still did not know the value of the PLN's PLTU acquisition. However, he ensured that this acquisition process would not interfere with the company's cash flow.

"We don't know how much it is worth, but we don't think it's too big and doesn't disturb the company's cash flow. The important thing is that this project is carried out with optimal value for PTBA and PLN and technically it doesn't interfere with PTBA's financial condition," he concluded.

Previously, PLN and PTBA agreed to explore the possibility of an early termination of one of the PLTUs, namely the PLTU Pelabuhan Ratu.

Arsal conveyed his commitment to support the Government's policy of encouraging early retirement of PLTU in the context of transitioning to clean energy. PTBA really cares about the issue of climate change and is ready to contribute so that the Net Zero Emission target in 2060 can be achieved.

"Cooperation with PLN in carrying out early retirement of PLTU is in line with PTBA's vision to become a world-class energy and chemical company that cares about the environment. We hope that carbon emission reduction targets can be achieved and energy security is maintained," he said.