VDH in RI's consortium

VDH in RI's consortium

SINGAPORE (Reuter): Infrastructure-based Van der Horst Ltd
said yesterday it has agreed to take a 25 percent stake in a
consortium collaborating on development of a joint venture
company for an Indonesian power plant, with a first phase costing
an estimated US$150 million.

Van der Horst (VDH) said in a news release the consortium
would bid to build and operate the gas-fired combined cycle power
generation plant on Batam island.

The consortium comprises Brighton Ltd (BL), P.T. Repindo Nusa
Jaya, P.T. Kresna Tara (KT), Tractebel S.A. [TREB.BR], Itochu
Corp and VDH.

VDH Executive Chairman Johanes Kotjo has a deemed interest of
15 percent each in BL and KT, while Van der Horst director
Bambang Trihatmodjo has a deemed interest of 55 percent in each.

The project is not expected to have any material impact on
group earnings per share and net tangible assets for the
financial year ending September 30, 1997, VDH said.