Energy company to add investment in Indonesia's South Sulawesi
China's Hong Kong-based World Energy firm has planned to increase investment to boost the capacity of its steam-power plant in South Sulawesi of Indonesia, Investment Coordination Board (BKPM) Chairman Muhammad Lutfi said Tuesday.
The firm would increase its investment by 130 million U.S dollars to boost the capacity of the plant from 190 mega to 320 mega, so the total investment on the plant would be 330 million U.S. dollars, Lutfi said.
Meanwhile, the company has planned to finance the exploration of liquefied natural gas (LNG) in Sengkang gas field in South Sulawesi to support the plant with an investment of 590 million U.S. dollars, he said.
"The firm want to invest for 2 million tons of LNG," Lutfi told reporters at the State Palace here.
Top officials of the firm met with Indonesian Vice President Jusuf Kalla on Tuesday morning to discuss the plan, he said.
Indonesia, the world's third largest liquefied natural gas exporter, is trying to entice with explorers to develop oil and gas areas to comply with rising energy demand and make up loss production.
Rising Indonesian economic activities lead to a rise of demand of energy by approximately 10 percent annually, particularly the demand of oil and gas.
The firm would increase its investment by 130 million U.S dollars to boost the capacity of the plant from 190 mega to 320 mega, so the total investment on the plant would be 330 million U.S. dollars, Lutfi said.
Meanwhile, the company has planned to finance the exploration of liquefied natural gas (LNG) in Sengkang gas field in South Sulawesi to support the plant with an investment of 590 million U.S. dollars, he said.
"The firm want to invest for 2 million tons of LNG," Lutfi told reporters at the State Palace here.
Top officials of the firm met with Indonesian Vice President Jusuf Kalla on Tuesday morning to discuss the plan, he said.
Indonesia, the world's third largest liquefied natural gas exporter, is trying to entice with explorers to develop oil and gas areas to comply with rising energy demand and make up loss production.
Rising Indonesian economic activities lead to a rise of demand of energy by approximately 10 percent annually, particularly the demand of oil and gas.