Madhucon Project’s led consortium has received a Letter of Intent (LoI) for setting up a mine mouth coal fired power plant of 300 MW capacity (2X150) at South Samatra in Indonesia. The power plant, which is expected to commence production by next year, is coming next to existing coal mine of PT Madhucon Indonesia at Dawas site.
Further, a special purpose vehicle (SPV) for this purpose shall be formed by Madhucon Projects along with group companies. Madhucon Projects is expected to hold 65% of stake in SPV, while the remaining will be held by group companies. The SPV shall be entering into a power purchase agreement (PPA) with PT.PLN, a government company for 25 years.
Hyderabad, based Madhucon Projects is a major infrastructure company, with interests in National highways, toll road, coal, railways, irrigation, hydel, dams, canals, bridges and flyover projects.