PowerChina to build hydropower plants for $17.8 billion

PowerChina to build hydropower plants for $17.8 billion

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Jakarta — Power Construction Corporation of China has signed a memorandum of understanding (MoU) with PT Indonesia Kayan Hydropower Energy to jointly build hydropower plants with a total investment of US$17.8 billion in the Kayan River in North Kalimantan. Under the MoU signed in Beijing last Friday (13/04), the two firms will develop five hydropower facilities with a total electricity generation capacity of 9,000 megawatts. “PowerChina began studying hydropower resources of the Kayan River in 2008 and completed the development plan for the whole basin of the river as well as the feasibility study and preliminary design of the first hydropower plant in 2013,” Guo Xiodan, the representative of Sinohydro Corporation, PowerChina’s subsidiary engaged in hydopower plant construction, said in a statement on Monday (16/04). Xiaodan expects the hydropower project to create significant multiplier effects in the economy of North Kalimantan, which known for abundant natural resources. According to the North Kalimantan administration, the province has a hydroelectricity potential amounting to around 33,000 MW. Since entering the Indonesian market in 1995, PowerChina, a state-owned company, has developed infrastructure projects totaling US$2.4 billion in Indonesia.

Source: thejakartapost.com

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