Edison Raises Stake in Indonesia Venture
Edison Mission Energy Co. said Tuesday it has increased its stake in an Indonesian power project to 40% from 32.5%. The additional interest in the Paiton Power Project in east Java was acquired from General Electric Capital Corp.
The project, which is now under construction, was developed and is owned by an international consortium of Edison Mission Energy, Mitsui & Co. Ltd. of Japan, P.T. Batu Hitam Perkasa, an Indonesian coal supplier, and General Electric Capital.
Edison Mission will operate the plant and will employ about 550 people. The first unit is expected to come online in late 1998.
Edison Mission Energy is a subsidiary of Edison International Corp. (formerly SCEcorp), which owns Southern California Edison Co.