TEMPO.CO, Jakarta - Jawa Satu Power has appointed Samsung Heavy Industries Co. Ltd. as the contractor of its floating storage regasification unit (FSRU). The terminal will process LNG to be used by the Java 1 combined cycle power plant (PLGTU).
Jawa Satu Power is a joint venture between Pertamina, Marubeni, and Sojitz; mandated to develop the PLGTU. Its president director Ginandjar said that a power purchase agreement between the company and Samsung was signed in Seoul on October 18.
The project requires an investment of some US$ 200 million. The FSRU construction will begin next year and scheduled for completion in 2020. The terminal will regasify 400 (mmscfd) of gas.
The Java 1 PLTGU is a power plant with the biggest capacity in the 35,000 MW mega project, expected to produce 1,760 MW of electricity.
Located in Cibatu Baru at the northern coast of West Java, the power plant will receive gas from PLN.
The Java 1 PLTGU is expected to cost US$1.8 billion, of which 80 percent will come from the consortium of Mizuho, Japan Bank of Infrastructure Cooperation, Asian Development Bank, and Nippon Export Investment Insurance.
Developers are targeting to seal the funding agreement (financial close) in December.
ROBBY IRFANY | FERRY FIRMANSYAH