China Light eyes RI deal

China Light eyes RI deal

HONG KONG (Reuters): China Light & Power Co Ltd said yesterday it was in talks with PT Perusahaan Listrik Negara (PLN) on a project for a submarine cable linking the Indonesian islands of Bali and Lombok.

"It is a substantial project, more than US$100 million depending on the capacity of the cable," managing director Ross Sayers told a news conference.

He said a memorandum of understanding had been signed with PLN, the national electricity utility, and while other projects in Indonesia were suffering from the currency turmoil in Southeast Asia, this project was not affected.

"The misfortune that faces other projects favors us," Sayers said.

China Light said it now has a representative office in Jakarta and was looking to set one up in the Philippines in the near future. The company said there would be opportunities for development in the Philippines with the restructuring of the power industry.