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Cikarang Listrindo Expansion for The Benefit of Stakeholders
Public News|May 31, 2017
Jakarta, May 30, 2017 – The expansion of PT Cikarang Listrindo Tbk (IDX: POWR) through the construction of a coal-fired power plant (PLTU) of 2 x 140 MW located in Babelan District, North Bekasi has reached its latest stage through the operation of the first unit of this power plant. The power produced by the unit is connected to the Company’s core generation facility located in Cikarang through 30km of 150kV transmission lines, to be conveyed to all industrial customers through the Company’s 20kV underground distribution network. Apart from investing in this plant, the Company has also invested in the transmission and distribution of electricity to the end users. The Company’s investment in 20kV distribution cables started in 1993 and, by the end of Mar 2017, resulted in approximately 1,400km of underground distribution cable, which is about equal to the distance from Jakarta to Medan, whereas the 30km of transmission lines pass over 1 regency, 7 districts and 13 villages.
The Company’s management is proud of the achievement of this greenfield power plant expansion which started in 2012 and achieved completion of the present phase in 2017. The Company invests in new generation sites, new generation types in addition to simple and combined cycle gas plants (PLTG and PLTGU), and in transmission lines, the recent 30km being the longest constructed in the Company’s 24-year of operation. The success of this project is a collective team achievement, through maintaining the Company’s values in providing the best service to all related parties, including customers and the surrounding community.
The Company’s management is aware that the Company’s existence is also to create added value to the surrounding community, an ideal that has become an essential element of its culture. Corporate Secretary, Christanto Pranata declared, “Caring for and helping others is part of our Corporate Values, developed through Corporate Social Responsibility (CSR). The Company is pledged to continually provide added social value with a commitment to improve the quality of education, quality of health, environmental development, and the life quality of employees and communities surrounding the plant location”. The Company maintains good relations with local communities by recruiting human resources from areas surrounding the plant location. In addition, the Company regularly conducts various CSR program initiatives through environmental conservation activities, socio-cultural advancement with the development and improvement of road infrastructure, facilities, places of worship and other community empowerment activities through school construction projects, scholarships and health care assistance.
The company’s CSR commitment is supported by the achievement of positive operational and financial performance as indicated in the growth of electricity demand from industrial estates by 5% in the first three months of 2017 compared with the same period last year as well as achieving a net profit of US$27 million or an increase of 14.4% compared with the same period last year after the reduction of deferred tax benefit, which was a one-off cost relief last year. With the operation of the new plant in 2017, the Company’s management believes it will be able to create greater value to the Company’s shareholders than in previous years.