JAKARTA: Following state visits by both head of state, Indonesia has seen a rise in South Korean investment recently, including in the energy sector.One of recent examples was Korea East West Power Ltd (Korea-EWP) which on Wednesday led 22 small and medium companies to explore business opportunities in Indonesia, especially in the electricity sector.Executive Vice President for Operations Power Business Division Lim Han Kyu said it was interested to take part in some power generating projects in Indonesia.We will involve local partner in consortium, otherwise it would be difficult for us, Kyu said.Korea-EWPs General Manager for Indonesia, Hwang Jin Yoong, said that the company is in tendering for 2x100 megawatts power plant in South Kalimantan, estimated to cost $350 million. It partners with Adaro Energy, with the South Korean firm holding 35% stake of the consortium.Pre-qualification is already done. If we succeed in winning the tender, it would be our first power plant project in Indonesia, said Yoong. The power plant project is expected to kick off construction in the first quarter of 2012, and likely to be completed within 3 years. Adaro has pledged to supply one million tons of coal annually for the coal-fired power plant.Aside from the project, Adaro last month won a tender to construct 2x1,000 MW coal-fired power plant in Central Java, estimated to cost IDR30 trillion. Adaro teamed up with J-Power and Itochu in a consortium for the project.I.G.A Ngurah Adnyana, PLNs operations director for Java-Bali network, said that South Korean firms were mostly focused in EPC projects such as maintenance for Tanjung Jati B power plants.Outside electricity sector, South Korean firms are stepping up investment in mining sector. One of which is Korea Resources Corporation which aims to continue its copper exploration in Flores, East Nusa Tenggara after it was halted in 2005. (T04/NOM)
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