PJB books 64% rise in assets to Rp 8.2t<\/p>\n
JAKARTA (JP): PT Pembangkitan Listrik Jawa-Bali (PJB) I, a
\nsubsidiary of the state-owned electricity company PLN, reported a
\n64 percent increase last year in the value of its assets to Rp
\n8.2 trillion (US$3.4 billion), PJB I's president said yesterday.<\/p>\n
Firdaus Akmal said the increase resulted from the operations
\nof the Suralaya V to VII combined-cycle power plants in West Java
\n-- which have a total capacity of 1,800 MW -- and the Tambak
\nLorok, Central Java, and Grati, East Java, combined-cycle power
\nplants.<\/p>\n
He said PJB I made a Rp 350 billion net profit last year.<\/p>\n
PJB I is one of the two subsidiaries established by PLN late
\n1995 as part of its privatization program. PJB I is managing the
\nSuralaya coal-fired plant, Saguling hydro-power plant, both in
\nWest Java, the Tambak Lorok steam power plant in Semarang and
\nsteam and gas power plants in Bali.<\/p>\n
Pembangkitan Listrik Jawa Bali II, the other subsidiary, is
\nmanaging PLN's other power plants, including the Paiton coal-
\nfired power plant, Karangkates hydro-power plant, Gresik steam
\npower station, Grati steam power plant, all in East Java, and the
\nCirata hydro-power plant in West Java.<\/p>\n
The two subsidiaries are among several state enterprises now
\npreparing to go public. They are expected to float their shares
\non the domestic stock exchanges early next year.<\/p>\n
Firdaus said that most of PJB I's profit came from electricity
\nsales in Java and Bali. These two islands require 2,000 megawatts
\nof electricity, with demand growing between 15 percent and 17
\npercent a year.<\/p>\n
Firdaus said PJB I was developing more power plants to meet
\nthis growing demand. He predicted that, by the end of the Sixth
\nFive-Year Development Plan in 1999, PLN would have increased the
\nsupply of electricity in Java and Bali by 8,000 MW.<\/p>\n
The government said last year that it aimed to establish new
\npower plants through PLN with a total capacity of 9,500 MW.<\/p>\n
Other power stations, with a combined capacity of 3,000 MW,
\nare to be built by private companies by March 1999.<\/p>\n
PLN, which until 1991 had a monopoly on both electricity
\ngeneration and distribution, plans to raise its generating
\ncapacity from 13,129 MW to around 39,000 MW by 2004.<\/p>\n
PLN estimates it will cost US$60 billion to raise its
\ngeneration capacity to 39,000 MW.<\/p>\n
The government also plans to construct about 10,000 kilometers
\nof transmission lines and 300,000 kilometers of distribution
\nlines by 1999.<\/p>\n
PLN president Djiteng Marsudi was quoted by Antara as saying
\nyesterday that, besides floating its subsidiaries, PLN planned to
\nestablish joint ventures with foreign partners.<\/p>\n
He said 13 umbrella cooperation agreements for projects had
\nbeen signed by PLN and several international power companies.<\/p>\n
"But (PLN) will be very careful in establishing these joint
\nventures and we will consult with other state-owned firms which
\nhave experience with this. We don't want PLN to feel cheated one
\nday," he said.<\/p>\n
"This must be a win-win situation," he added. (pwn)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/pjb-books-64-rise-in-assets-to-rp-82t-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }