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PH engineering firm to build LNG plant in Indonesia

Homegrown multinational firm Altantic, Gulf and Pacific Co. (AG&P) has entered into a partnership with a group of Indonesian firms on the development a $980-million liquefied natural gas (LNG) terminal and power plant complex in Indonesia.

AG&P said in a statement it signed a heads of agreement with PT Energi Nusantara Merah Putih (ENMP) and a group of tenants in Bantaeng Industrial Park (Kiba), located in South Sulawesi.

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“AG&P is thrilled to support this nationally important project in Bantaeng,” AG&P chief financial officer Abhilesh Gupta said in a joint statement.

“We look forward in short order to LNG being available for the power plant and to industry and consumers throughout Southern Sulawesi and nearby regions,” Gupta said.

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The power plant project is currently in the engineering phase and is expected to reach financial closing within a year.

Once funding has been secured, the proponents intend to start construction immediately. The modular components of the terminal will be constructed at AG&P’s manufacturing facilities in Batangas.

The regency—or sub-provincial government—of Bantaeng is encouraging the development of industrial-based areas like the Kiba as part of efforts to become one of the largest nickel processing centers in the world.

Through two subsidiaries, ENMP is the owner and developer of the planned integrated LNG receiving terminal that will provide fuel for the 600-Megawatt power plant, which will be the main provider of energy to the industrial park.

Further, this project is intended to be developed into an LNG distribution hub for the central and eastern regions of Indonesia.

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TAGS: Altantic, Business, Gulf and Pacific Co. (AG&P)
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