PT Dian Swastatika Sentosa Tbk (IDX: DSSA) aimed to build coal-fired power plant in 2020 - Photo by the Company

JAKARTA (TheInsiderStories)PT Dian Swastatika Sentosa Tbk (IDX: DSSA) aimed to build coal-fired power plant in 2020, local media reported on Wednesday (12/11). To funds the expansion the power producer has pocketed loans US$223.5 million from state lender, PT Bank Mandiri Tbk (IDX: BMRI).

The loan has a duration of 51 months with a three-month Libor interest rate plus 4.5 percent per year. According to the corporate secretary, Susan Chandra, the company plans to complete the Kalteng-1 PLTU project in Central Kalimantan with a capacity of 2×100 megawatts (MW). The completion of the power plant its expecting in the first quarter of next year.

In this year, she said, unit of Sinar Mas Group has operated two steam power plants Kendari-3 in in Southeast Sulawesi and Kalteng-1 in central Kalimantan. The investment value of the two projects worth of US$ 550 million.

Next year, The business group founded by Eka Tjipta Widjaja is aiming to manage power plant project with a capacity of 1,100 MW with a potential investment of around $1.65 billion. The managing director, Gandhi Sulistiyanto said, so far, the company has build 900 MW of power plant projects.

While, Chairman & CEO of Golden Agri Resources Ltd., Franky O Widjaja conveyed, the power plant expansion plan is in line with the government’ plan to carry out the electricity program of up to 35 GW in five years. He stated,”We will see tenders opened by the government.”

Until 2018, Dian Swastatika has working on two power plant projects with a total investment of $620 million. The projects are South Sumatra Musi Banyuasin with a capacity of 2×150 MW and Kendari-3 with a capacity of 2×50 MW. In addition, South Sumatra-5 which has been worked on since 2013.

Currently, the producer operates four captive power plants located in Tangerang, Banten also Serang, Karawang-1 and Karawang-2 in West Java, with a total capacity of 300 MW. While, the other projects are carried out by its’ subsidiaries.
Tangerang and Serang power plants produce electricity and steam for PT Indah Kiat Pulp & Paper Tbk (IDX: INKP), while Karawang-1 and Karawang-2 power plants produce electricity and steam for PT Pindo Deli Pulp & Paper Mills.
Through PT DSSP Power Sumsel, the company operates Sumsel-5 with total capacity of 2×150 MW located at Musi Banyuasin, South Sumatera. Then, through PT DSSP Power Kendari, the provider developed Kendari-3 with capacity of 2 X 50 MW located at South Konawe, South-East Sulawesi.

Through PT SKS Listrik Kalimantan, Dian Swastatika build Kalteng-1 with capacity of 2 X 100 MW located at Gunung Mas, Central Kalimantan.

In the first semester of last year, the company reported has booked the net profit $181.99 million and revenues $832.08 million. Major contributor for the revenues came from the coal mining and trading business segment, which amounted to $495.93 million.

Written by Staff Editor, Email: theinsiderstories@gmail.com