Malaysian Firm to Bid for $3bn Java Power Project

3 April 2011 (Last Updated April 3rd, 2011 18:30)

Malaysian firm, YTL Power, plans to bid for a $3bn coal-fired power plant in Central Java, Indonesia, in partnership with a number of Japanese firms. The consortium with the Japanese firm holding an 80% stake and YTL holding the remaining 20% is expected to submit the tender documents w

Malaysian firm, YTL Power, plans to bid for a $3bn coal-fired power plant in Central Java, Indonesia, in partnership with a number of Japanese firms.

The consortium with the Japanese firm holding an 80% stake and YTL holding the remaining 20% is expected to submit the tender documents within a month, according to Malaysian Reserve.

Equity funding for the 2,000MW plant was expected to amount to $500m.

At present, YTL Power owns a 35% stake in Indonesia's Jawa Power, which owns a 1,220MW coal-fired power plant in East Java.