Medco Energi to distribute electricity

17 May 2004 - Indonesian publicly listed oil company PT Medco Energi Internasional said it had secured a $30m contract to handle the distribution of electricity from the power generating plant of PT Mitra Energi Batam for 12 years.

Medco Corporate Secretary Sugiharto said the company plans to expand its business to the power generating sector this year.

Late last year, the company acquired a stake in PT Menamas in PT Mitra Energi Batam, which is building and operating a gas-powered electricity generating project on the island of Batam just south of Singapore.

The power plant will start operation next month with a capacity of 55 MW.

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