JAKARTA (Yosefardi) – Coal miner PT Indo Tambangraya Megah Tbk (ITMG) plans to build power plant of 1,000 megawatts (MW) in Java next year which costs US$1-2 billion.
ITMG will invite its parent company Banpu Plc to join in the project. The construction of power plant will take 4-5 years. Currently ITMG operates power plant with capacity of 2×7 MW in Block Timur.
The company allocates capital expenditure (capex) of US$64 million for this year. It targets to produce 30 million tons of coal this year.
By end of this year, ITMG plans to close the operation of its unit PT Kitadin Tandung Mayang.