Samindo Resources (MYOH) glanced at the PLTS project

KONTAN.CO.ID - JAKARTA. Since 2017, PT Samindo Resources Tbk intends to expand into the power generation business. Samindo Resources Operations and Development Director Ahmad Saleh said, the parties are now starting to participate in a number of tenders for solar power projects.

One of the tenders that they are aiming for is the PLTS project with a capacity of 2x25 megawatts (MW). Previously, the issuer coded MYOH shares had also participated in several power plant project tenders.

MYOH Investor Relations, Ahmad Zaki said, currently his party is still awaiting the announcement of the winner of the PLTS tender. The plan will be delivered in August.

In order to cultivate this solar power plant business, Zaki said, companies need funds of US $ 1 million per 1 MW, so they need funds of US $ 50 million for the 2x50 mw PLTS.

He explained, later the majority of funding would be obtained from internal cash. So far, MYOH has been trying to diversify its business.

Although it will try out several new businesses, it projects that the majority of revenue will still be obtained from the coal mining business.

"In the future we want to have a renewable energy project, but the composition of revenue from the coal mining service sector still donates around 50%," he said on Wednesday (26/6).