Hopewell reviews RI options

Hopewell reviews RI options

HONG KONG (Reuters): Hong Kong's Hopewell Holdings Ltd is
reviewing the near and long-term outlook for its Indonesian
investments, a spokeswoman for the company said yesterday.

"Hopewell is considering all its options because of the
political and economic situation in Indonesia," the spokeswoman
said, but would not confirm Jakarta press reports saying the
project was to be delayed or possibly terminated.

Hopewell has two power plant projects in Indonesia, Tanjung
Jati B and Tanjung Jati C.

The Hong Kong company holds 80 percent of the Tanjung Jati B
project and its Indonesia partner PT Impa Energi the remaining 20
percent.

Tanjung Jati B, a coal-fired project which is about 20 percent
completed, was scheduled to come on line at end-2000.

The Indonesian government in January of this year put the
Tanjung Jati C project on review.

Hopewell has previously said it had not invested any capital
in the C phase of the mega-plant, but has not disclosed how much
it has spent on Tanjung Jati B which has a total planned
investment of US$1.77 billion.