Joint venture buys four plants from Asian Pulp and Paper

Asia Independent Power, a joint venture company, has bought four cogeneration plants in Indonesia from Asia Pulp and Paper subsidiaries. Asian Independent Power is owned by Singapore Power Ltd. and Indonesia’s Sinar Mas Group.

The joint venture paid $349 million for the four plants with a total capacity of 313 MW and a steam generating capacity of 1573 t/h. The plants were acquired from PT Indah Kiat Pulp and Paper Corp. and PT Pindo Deli Pulp and Paper Mills in West Java.

Asian Independent Power plans to buy further cogeneration plants from Asia Pulp and Paper. These include three plants in China, two under construction, three further plants in Indonesia, one in Sarawak and one in India. Asia Pulp and Paper’s remaining plants have a power capacity of 816 MW and a steam generating capacity of 4987 t/h.