PT Toba Bara Sejahtera Tbk (TOBA) allocates capital expenditure (capex) of US$60-65 million for this year, mostly used for funding two coal-fired power plants (PLTU) projects which cost US$420-440 milion. TOBA has entered into power plant business and has signed power purchase agreement (PPA) with state electricity firm Perusahaan Listrik Negara (PLN) for 25 years period. TOBA, through consortium of PT Gorontalo Listrik Perdana, will develop power project of Sulbagut-1. While its joint venture (JV) entity, PT Minahasa Cahaya Lestari (MCL) develops power project of Sulbagut-3.
