JAKARTA. PT Medco Energi Internasional Tbk (MEDC) is looking for business partners to support the gas-fired power plant development project of its subsidiary, PT Medco Power Indonesia (MPI).
Ronald Gunawan, Chief Operating Officer of MEDC, said that the plan would support the company's upstream business in establishing an Independent Power Producer (IPP). One of the criteria for the prospective business partners is a company experienced in the conversion of gas to Liquefied Natural Gas (LNG).
Gunawan added that his party would be assisted by J.P. Morgan in the process. "Some are already interested," said Gunawan.
In the first half of this year, MPI sold 1,253 GWh of electricity. MPI contributed US$ 94 million of MEDC's total revenue in the first half of this year. (KR/AR)