Korea Midland expanding to Indonesia, Thailand
JAKARTA – Korea Midland Power (Komipo), one of five power generation subsidiaries of the Korea Electric Power Corporation (Kepco), is expanding to Indonesia and Thailand, Korea JoongAng Daily reported. Its most successful business the 660-megawatt coal-fired power plant, Cirebon Electric Power (CEP), started operations in 2012 as a joint venture between Komipo, Japan’s Marubeni Corporation, Korean coal selling agency Samtan and Indonesia’s PT Indika Energy Tbk (IDX: INDY).
The second coal-fired power plant for Cirebon with a capacity of 1,000 megawatts is scheduled to break ground in July, and a memorandum of understanding to build up a third plant in Cirebon was signed on May 16. (*)
Source: The Insiderstories