On April 13, POWERCHINA, together with Indonesia’s PT. Kayan Hydropower Energy Co. Ltd., signed a joint development agreement for the Kayan River 1-5 Cascade Hydropower station in Indonesia.
On behalf of POWERCHINA, Mr. Ding Zhengguo, Chairman of POWERCHINA INTL, attended the seminar and signed the agreement. The Indonesian President’s Special Envoy and the Coordinating Minster of Maritime Affairs Mr. Luhut was also present to witness the signing of the agreement.
The Kayan River Cascade Hydropower Project is located in Northern Kalimantan province of Indonesia, with a total installed capacity of 9,000 MW and a total investment value of US $17.8 billion. Powerchina began to study the hydropower resources of the Kayan River in 2008 and completed the planning of hydropower resources for the whole basin of the Kayan River in 2013, at the same time completing the feasibility study and preliminary design of the Kayan River I Hydropower Plant.
Northern Kalimantan Province, while boasting its rich natural resources and a great potential for development, its economic development is having many constraints due to long-term shortage of electricity supply. Developing the Cascade Hydropower Station project of the Kayan River will boost the development of the local mineral resources, its manufacturing industry, transportation and other areas, improving the local people's livelihood and its economic growth.
Since entering the Indonesian market in 1995, POWERCHINA and its subsidiary corporations have completed multiple electricity and infrastructure projects with total contract value of about US $2.4 billion. POWERCHINA’s key projects currently under construction include, the Jakarta-Bandung High-Speed Railway, Jatigede Dam Project, Jatigede Hydroelectric Power Plant Project, Pangkalan Susu 3&4 CFSPP Project, Batang Toru Hydroelectric Power Plant. The total contract value of about US $5 billion.