Tommy to build power plant

Tommy to build power plant

JAKARTA (JP): PT Okha Hutomo Satrya and Figear Ltd., two
private firms affiliated to the Humpuss Group, will build a
geothermal power plant in Wayang Windu, West Java in cooperation
with Asia Power of New Zealand.

Humpuss Group is controlled by President Soeharto's youngest
son Hutomo (Tommy) Mandala Putra.

The power project, to cost US$800 million, is expected to
start operation in the middle of 1998 with a generation capacity
of 400 megawatts, Kompas daily reported yesterday.

John Whebble of Asia Power and Irwan Soegiarto, representing
Okha Hutomo Satrya and Figear Ltd., signed the agreement on the
project earlier this week.

After the signing ceremony, which was witnessed by visiting
New Zealand Deputy Prime Minister Don Mckinnon, Whebble and Irwan
said that the giant project is located in Kamojang, West Java and
will be managed by Mandala Nusantara Limited, a joint venture of
the three companies.

The joint venture will operate the power plant for 30 years.

The state-owned electric company, PLN, signed a purchase
agreement with the private firm recently to purchase the
electricity from the power plant once it begins operation.

Soegiarto noted that to finance the power project, Mandala
Nusantara will acquire loans from a number of local and foreign
banks, including export-import banks of Japan and the United
States.

Asia Power will provide technology and equipment for the power
project. (13)