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Dian Swastatika to operate two coal-fired power plants this year

JAKARTA (RambuEnergy.com) – PT Dian Swastatika Sentosa Tbk (IDX:DSSA), a company owned by Sinar Mas group, expects to kick off the operation of two coal-fired power plants this year, namely  PLTU Kendari-3 on the Sulawesi Island and PLTU Kalteng-1 in Central Kalimantan.

Corporate Secretary of Dian Swastatika Susan Chandra expects the Kendari-3 power plant to begin operating in the first quarter, while PLTU Kalteng-1 in the fourth quarter this year.

PLTU Kendari-3, with installed capacity of 2×100 MW, is located in South Konawe Regency, Southeast Sulawesi province. The company spent US$200 million to develop the power plant with installed capacity of 2×50 MW.

The project is developed based on build, own, operate and transfer (BOOT) mechanism, in which the project will be handed back to PLN, the state utility company, after 25 years.

Meanwhile, as for PLTU Kalteng-1, Dian Swastatika invested around US$ 340 million. The power plant is located in Tumbang Kajuei, Central Kalimantan province with installed capacity of 2×100 MW.

The company expects the two projects to boost the company’s revenues this year by up to 10%. The company targets revenues to reach US$1.8 billion this year.

The company is yet to announce its full year 2018 results. As of end third quarter, the company booked revenues of US$1.40 billion. The biggest contributors to the revenues were mining and coal trading, amounting to US$767.06 million.

This year, the company projected to produce 23 million tons of coal. (*)

Written by Staff Writer

Edited by Roffie Kurniawan

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