PT Semen Tonasa is going to start the construction of a 3x15MW power plant in Pangkep, South Sulawesi in the fourth quarter of IV 2008. The US$157m worth power plant is projected to start its trial operation in the third quarter of 2010.
President Director of Semen Tonasa Sattar Taba revealed the power plant was expected to boost electricity capacity of the subsidiary of Semen Gresik to 155 MW in 2011. The new power plant itself will have a 3x15 MW capacity.
"The construction time will be synchronized with that of Tonasa V plant project. The trial operation and commissioning of the project is targeted to take place between the third quarter of 2010 and the first quarter of 2011," he said recently.
Sattar explained 30% of the investments were expected to come from internal equity of Semen Grasik, while the rest was projected to come from bond issuance and banking loans.
According to him, the project, which is going to be built on 10 hectares of area, was going to create 1,000 jobs during the construction time and 200 more when it had started operation. The new power plant was also estimated to require 450,000 tons of coal per annum.
Sattar explained the company last year booked IDR1.7 trillion in revenues, up by 85% from 2003, leading Semen Tonasa to record IDR367 billion in EBITDA and IDR301.6 billion in pre-tax profits.
Semen Tonasa’s stellar performance was contributed by the soaring cement prices and the increase in production volume by averagely 8% per annum since 2003. Last year, Semen Tonasa was able to produce 3.2 million tons of cement ton.
"Our total assets rose by 11% from IDR1.4 trillion in 2003 to IDR1.55 trillion in 2007," he said.