M.L. Cass to build RI plant<\/p>\n
CALGARY, Canada (Reuters): Canada's M.L. Cass Petroleum Corp
\nsaid on Wednesday it agreed to acquire 95 percent of an
\nIndonesian company in a deal that would allow it to build and
\noperate a US$130 million power plant at Pomalaa, South Sulawesi,
\nIndonesia.<\/p>\n
M.L. Cass said the firm to be acquired, PT Pomalaa Power Co,
\nhad a special right to design, finance, build and operate the
\ncoal-fired plant. The Canadian firm would purchase the 95-percent
\nvoting stake for US$1 million.<\/p>\n
M.L. Cass said the license to build the facility was granted
\nby PT Aneka Tambang, a publicly-traded mining firm that is 65-
\npercent owned by the Indonesian government.<\/p>\n
Aneka Tambang has conditionally agreed to a 13-year U.S.
\ndollar-based power purchase contract with PT Pomalaa Power for a
\nrelated ferro-nickel smelter.<\/p>\n
Construction of the plant was slated to start in October, and
\nthe Canadian company said PT Pomalaa Power was negotiating with
\ntwo major Southeast Asia contractors to provide US$90 million in
\nfinancing.<\/p>\n
Also, Aneka Tambang had conditionally agreed to provide US$20
\nmillion in financing in the form of forward power purchases.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ml-cass-to-build-ri-plant-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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