Malaysia's YTL Power to bid for $3 bln Java power project-paper

Malaysia's YTL Power will bid for a $3 billion coal-fired power plant in Indonesia's Central Java in partnership with a consortium of Japanese companies, business daily Malaysian Reserve reported on Monday, citing unnamed sources.

The report said the 20-80 partnership, with the Japanese partners holding the larger chunk, would likely submit tender documents within a month.

Equity funding for the 2,000 megawatt plant was expected to be in the region of $500 million, the paper said. It did not disclose the identities of the Japanese participants.

YTL Power presently owns a 35 percent stake in Indonesia's PT Jawa Power, which owns a 1,220 MW coal-fired power plant located East Java. It also owns PowerSeraya, a Singapore-based power generating firm.
YTL Power was not immediately available for comment. Source: Reuters