Hyundai Corp, PP win $340 mln Indonesia hydropower plant
Reuters, Jakarta - 30/05/2011
Indonesian state utility PLN said on Tuesday that South Korea's Hyundai Corp and Indonesia's PP have won a 2.9 trillion rupiah ($339.4 million) contract to build an 88-megawatt hydropower plant in Sumatra's Aceh province.
Indonesia is trying to boost its power supply in the next few years to fuel strong economic growth, while South Korean firms are leading a recent wave of Asian manufacturing investments in Southeast Asia's biggest economy.
"The project will be onstream in 2016," said PLN spokesman Bambang Dwiyanto.