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Madhucon Projects’ overseas arm inks power purchase pact with Persero

18 Jul 2012

Madhucon Projects’ Indonesia-based subsidiary, PT Madhucon Sriwijaya Power has signed power purchase pact with PT PLN (Persero), Indonesia for supply of power for 25 years from its proposed 300 MW mine mouth coal fire power plant to be set up in South Sumatra, Indonesia at a cost of $410 million. The financial closure is expected to be completed by November/ December, 2012.

With regard to the coal subsidiary -- PT Madhucon Sriwijaya -- which is having three coal mines in Indonesia, one of the mines at Dawas in South Sumatra has commenced production with the monthly target of 25,000 tons.

Madhucon Projects (MPL) is engaged in execution of infrastructure projects, such as construction of national highways, fly-overs, dams, tunnels, aqueducts, bridges, coal handling plants, workshops property development projects including high rise structures, Hospitality and retail industry structures etc. and enjoying substantial non-fund based limits in the form of bank guarantees with banks under Multiple Banking arrangements.

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