October 25th, 2016 witnessed the groundbreaking ceremony of Bengkulu Coal-Fired Power Plant Project (Bengkulu Project), the first investment made by POWERCHINA RESOURCES LTD. (known as PCR), a subsidiary of Power Construction Corporation of China (POWERCHINA), in Indonesia. It is an investment project that PCR won through an international competitive bidding process. The Bengkulu Project, with an installed capacity of 2x100 MW, is expected to be put into operation by the end of 2019.
The Bengkulu Project has garnered great attention and strong support from the local community. Ridwan Mukti, Governor of Bengkulu province, attended the ceremony and delivered a speech, saying, “This project will create more jobs, increase government revenue, spur local economic growth and bring other benefits to the province.” Upon completion, Bengkulu power station will provide around 1.4 GWh of electricity to Sumatra and greatly reduce power shortages in the region.
POWERCHINA has completed or participated in nearly 30 projects in Indonesia, including the Jatigede Hydropower Plan, an early Sino-Indonesia governmental cooperation on hydropower project, as well as the Djakarta-Bandung high-speed railway project, which represents China’s high standards for high-speed railways.
The Bengkulu Project represents POWERCHINA’s enhanced efforts in exploring businesses under the Belt and Road Initiative. As the spearhead of Going Global movement, POWERCHINA has been doing business along the Belt and Road for over thirty years and now has footprints in 113 countries and regions worldwide.
As a specialized overseas investment arm of POWERCHINA, PCR can mobilize more than 30,000 overseas professionals within the group, and apply 3,000 technical patents and 460 industry standards. Through the seamless integration of POWERCHINA’s superior resources in design, survey, supervision, construction, operation and maintenance, PCR gives full play to its investment advantage along the Belt and Road through offering integrated and value-added services across the whole industry chain.
Following the Belt and Road Initiative, PCR has established more than 30 branches in a number of countries and regions, including China’s Hong Kong SAR, Cambodia, Laos, Nepal, Pakistan, Democratic Republic of the Congo, Indonesia, Singapore, and Dubai. It has also invested over 10 electric power projects in BOT, BOOT, BOO or IPP mode with total installed capacity of more than3000 MW.
POWERCHINA’s overseas investment projects along the Belt and Road not only help in the exportation of Chinese standards, technology and equipment, but also enhance the spread of Chinese culture, mutual understanding and economic exchanges between related countries. For instance, the Bengkulu Project alone will require nearly 1500 local employees, bring job opportunities in related business lines and boost local economy.
POWERCHINA has already become one of the backbone corporations of the Belt and Road Initiative. It will strive to become a world-class construction and investment group with cost-effective and value-added services around the globe.