Investment in Indonesia / Paiton 2 Coal-fired Power ProjectSaturday, 20 August 2011
Marubeni Corporation has completed the acquisition of 42.86% of the shares of YTL Jawa Power Holdings B.V (hereafter “YTL Jawa Power”) from YTL Power International (hereafter “YTL Power”).
YTL Jawa Power owns a 35% stake in PT Jawa Power (hereafter “PTJP”), which owns and operates the 1,220 MW Paiton 2 Coal-fired Power Station in Java, Indonesia. With the completion of this transaction, Marubeni has successfully made an investment in the Paiton 2 project with an indirect stake of 15%.
With very strong economic growth potential, Indonesia is a promising and attractive market and as such a strategically important country for Marubeni in South East Asia. With its extensive knowledge and experience in the worldwide power industry, Marubeni intends to further contribute to the development and prosperity of the country by helping to ensure a stable and efficient supply of power.
Outlined of the Related Parties:
Name: YTL Power International Berhad
Established: April 1993
Main Office: Kuala Lumpur
Outline of Business: Utility
Name: YTL Jawa Power Holdings B.V
Established: December 2004
Main Office: Amsterdam, Netherlands
Outline of Business: Investment in the Paiton 2 Project