PT Asrigita Prasarana

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The 130-MW Palembang Gas-Fired Power Plant was being developed by PT Asrigita Prasarana, a consortium of PT Astra International (87%) and local businessman Martini Salaeman (13%). The project was to use both natural gas and combined-cycle technologies. The project was being developed as a 20-year BOT. GE Power Systems was the primary project contractor. A 20-year PPA with the national utility Perushaan Listrik Negara (PLN) to sell 80% of power from the Palembang plant was signed on November 12, 1996. Natural gas was being supplied from the Asamera field in southern Sumatra. The US $168.5-million project began construction in 1997 but stalled in 1997 as a result of the Asian economic crisis. In May 2003, a consortium headed by the China National Chemical Engineering Corp. acquired the equity in the company set up to develop a 150-MW power project. The consortium also included the China Civil Engineering Construction Corp. and PT Sumbergas Sakti Prima. The consortium acquired ownership of PT Asrigita Prasarana, which had the rights to develop the gas-fired combined-cycle plant at East Palembang on a build-own-operate basis for 20 years. Construction started in September 2003, according to the state-owned electricity utility Perusahaan Listrik Negara, which was to become the off-taker. The project had a debt/equity ratio of 75:25. Financing was being arranged by Chase Manhattan Bank. The plant came into operation in August 2004.