re: Ann: Sengkang Project-Siemens 60MW Gas Tu... Hey ZZiggy,
I think you're wrong .
The breakdown itself is old news , if you Google 'Sengkang Listrik' you'll see there have been rolling blackouts in Sengkang and Makassar for the past 4 weeks.There has however been no report before this of the cause of the breakdown.
The locals are extremely angry with PLN ( The National Electricity Company) because of the power outages and are pressuring their local and national politicians to fast track the Sengkang Power Station expansion to help ease shortages ASAP.
This announcement is letting shareholders and others know that the problem was caused by faulty Siemens supplied equipment and Siemens will be responsible for the repairs and any associated costs.
It also supplies a date for completion of repairs.
I think this will provide some certainity for supply and liability questions at Sengkang Power and should stabilise the sp if anything.
I guess we'll see in the next few days.
As i understand all timeframes for Sengkang LNG Project are still as stated at AGM.
PS. Be aware if you use Google Translate to interpret Indonesian media reports ,you can sometimes get incorrectly nuanced results.
Regards Shamish
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