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Today's Headlines Medco Energi

  • Power Sector Indonesia: PLN to Tender Java I Steam & Gas Power Plant in June

    Five high-profile consortia have expressed their interest to develop the USD $2 billion Java I steam & gas power plant in Muara Tawar, Bekasi (West Java). State-owned utility company Perusahaan Listrik Negara (PLN), owner of this project and the company that is responsible for distributing electricity to the nation's 255 million people, said it is scheduled to tender this mega-project in June 2016. Indonesia's electrification ratio (the percentage of Indonesian households that are connected to the nation's electricity grid) is low at around 82 percent, implying there are still dozens of millions of Indonesians who lack access to electricity.

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  • Medco Energi Internasional Eyes Majority Stake in Newmont Nusa Tenggara

    Indonesian oil & gas exploration and production firm Medco Energi Internasional is reportedly eager to acquire a majority stake in copper and gold miner Newmont Nusa Tenggara (NNT), subsidiary of the US-based mining giant Newmont Mining Corp, which operates the Batu Hijau copper and gold mine on Sumbawa (West Nusa Tenggara). On Wednesday (25/11), the Medco Group informed Indonesian Coordinating Minister for Maritime Affairs Rizal Ramli that a MoU has already been signed between Medco and NNT to purchase a 76 percent stake, valued at USD $2.2 billion.

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