CalEnergy's plant to go on

Fri, 26 Sep 1997, 00:00 WIB | Source: REUTERS

OMAHA, Nebraska (Reuter): CalEnergy Co Inc said Wednesday its
planned operations in Indonesia should not be affected by the
possible government delay of private power projects due to
Indonesian currency turmoil.

"We have confirmed with the Indonesian government that the
government's proposed delay in the start-up dates of certain
private power projects will not impact the construction schedule
for our existing projects at Dieng, Patuha and Bali," Don O'Shei
Jr, president of CalEnergy, Asia, said in a statement.

CalEnergy said well drilling has begun, construction work has
started or financing has been arranged for its Dieng Units 1, 2
and 3, Patuha Units 1 and 2 and Bali Units 1 and 2.

"These Indonesian projects, as is the case with all our Asian
projects, are paid in U.S. dollars and carry political risk
insurance for our equity investment," David Sokol, CalEnergy's
chairman and chief executive, said.

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