JAKARTA (IFT) - PT PLN (Persero), state-owned electric company, projects that gas supply from Glagah Kambuna Technical Assistance Contract (TAC) in Pangkalan Brandan (North Sumatra) will be exhausted in December 2012. The gas field is managed by Salamander Energy Plc. Suryadi Mardjoeki, Head of Fuel Oil and Gas Division at PLN, said the unavailability of gas supply in that field will cause PLN to use fuel oil gas to operate the Belawan Steam power plant in North Sumatra. Power plant operations will start next year.
Suryadi explained that the gas purchase agreement between PLN and Salamander was conducted in 2008, and the contract will end in 2016 or 2017. During the initial period of the contract, Salamander obtained 28 million cubic feet per day (MMSCFD) of gas supply, and is allocated for the Belawan power plant. However, current gas supply for the power plant is declining, only reaching 11 MMSCFD. "If gas supply runs out, the company must use fuel oil to operate all units in the Belawan power plant,” he said.
PT Garuda Indonesia Tbk (GIAA)
The state-owned airline company has spent Rp 3.01 trillion of its net IPO proceeds of Rp 3.18 trillion throughout 2013. The company spent Rp 2.54 trillion from the IPO proceeds to develop its armada, and Rp 466.12 billion to fund its 2013 capex. The capex was allotted to the company and its subsidiary. The company still had remaining IPO proceeds of Rp 171.28 billion that is saved as deposits.
PT PLN (Persero)
The state-owned electricity company targets gas consumption for its power plants in 2014 to rise five percent to 470.3 BBTUD in 2014 from actual consumption of 409.9 BBTUD last year. The gas consumption target will be met by optimizing gas distribution from Kangean Energy and PT Nusantara Regas.
PT Sumber Alfaria Trijaya Tbk (AMRT)
The listed modern retail company—through its subsidiary Alfamart Retail Asia Pte Ltd Singapore—expands to the Philippines by establishing a joint venture subsidiary named Alfamart Trading Philippines Inc with a local partner. Alfamart becomes a minority shareholder in the joint venture with a 35-percent stake and capital of Rp 66.7 billion. The joint venture company will engage in commerce, distribution, and logistics segment.
PT Cita Mineral Investindo Tbk (CITA)
The listed bauxite producer many have to stop producing this year, following the banning of raw mineral export on January 12, 2014. An official of the company expressed his pessimism that the company could be able to produce this year. The company, through the consortium of PT Well Harvest Winning Alumina Refinery, started the construction of an alumina smelter on July of 2013, with investment value of US$ 1 billion in Kendawangan, West Kalimantan. The smelter’s development is expected to be completed in 2015.