Tough Encounter with a Local Partner - Economy - magz.tempo.co

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Karaha Bodas

Tough Encounter with a Local Partner

Tuesday, April 20, 2004

PT Sumarah is demanding 10 percent of US$294 million as settlement for its shares in the Karaha Bodas project.

. tempo : 178041134577.

THE case of the geothermal power project of Karaha Bodas in Garut, West Java, is nearing its final stages. Despite the attempt to file an appeal in the US, PT Pertamina is still required to pay compensation to Karaha Bodas Company (KBC). Its value has even swollen to US$294 million (around Rp2.5 trillion) due to interest.

When the International Arbitration Body decided in favor of KBC in December 2000, the compensation fixed was only US$261 millio

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