The Jakarta Post
Publicly listed independent power company PT Cikarang Listrindo expects to operate more efficiently after the completion of a coal-fired power plant worth US$475.1 million in Babelan, West Java, with a capacity of 2 x 140 megawatts (MW).
The second unit of the new facility commenced operations in September, while the first unit started generating electricity in May.
At present, the company has power plants with a total installed capacity of 1,144 MW.Read also: Cikarang Listrindo kicks off 2nd power plant
“[The] new coal-fired power plant [will] enable the company to operate more efficiently and maintain reliable electricity supply for customers in industrial estates,” Cikarang Listrindo finance director Christanto Pranata said in a statement released on Wednesday
Cikarang Listrindo booked a 4.35 percent annual increase in net revenue to $309.8 million within the first nine months of 2017, thanks to a 4.6 percent growth in electricity demand from several industrial estates, including in Cikarang, West Java.
The company also saw a 5 percent annual increase in earnings before interest, taxes, depreciation and amortization (EBITDA) to $151 million.
However, at the same time, it recorded $25.4 million in income tax expenses, in contrary with the $46.5 million worth of income tax benefit it booked in the same period last year.
As a result, Cikarang Listrindo’s net profit fell by 27.58 percent year-on-year to $79.23 million. (bbn)