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Wednesday, November 6, 2019

Shareholders of Pertamina and Marubeni will end



The chaotic Pertamina and Marubeni consortium in the Java-1 PLTGU project could continue

The partnership between PT Pertamina and Marubeni in the electricity project will end. The relationship between the two companies began with the Java 1 gas and steam power plant (PTGU) project in Cilamaya, West Java. 

    The tension among the members of the Java-1 PTGU consortium is increasing. Members of the Java-1 consortium namely PT Pertamina Power Indonesia (PPI), Marubeni Corporation and Sojitz Corporation.


The last two companies are companies from Japan. Well, this Pertamina subsidiary seems to be opposite Marubeni in the Java 1 PLTGU project (see table). In working on the 1,760 megawatt (MW) power plant project, Marubeni was considered not to prioritize business ethics. There are also violations of the domestic content level (TKDN) as well as project cost efficiency.

PPI President Director Ginanjar Sofyan, had sent a letter to three investors funding the Java-1 PLTGU project, namely the Japan Bank for International Cooperation (JBIC), NEXI and ADB. Previously, this consortium successfully won a financial close with JBIC Lenders and won a development fee of US $ 55 million.



The alleged inefficiency issue was also known from the investigation request document on the Java-1 IPP project submitted by Ginanjar to PT Pertamina's Chief Audit Executive dated September 13, 2019. Based on a copy of the document held by KONTAN, PPI considered Marubeni to be inconsistent with the proposed concept, but in the end they complained to Pertamina including regarding the appreciation program proposal.

Tensions between Pertamina and Marubeni at the Java-1 PLTGU finally led to a power plant project in Bangladesh. In this project, Marubeni is also a member of a PPI-led consortium. Therefore, PPI reportedly chose a new partner, one of the multinational companies from Japan. 

Fajriyah Usman

    PT Pertamina Vice President of Corporate Communication Fajriyah Usman was reluctant to comment on this issue. Related to the construction of the Java-1 PLTGU, ensuring the construction phase of this plant goes according to plan.

"The Java-1 project will operate well, Pertamina is committed," said Fajriyah.

Regarding the power plant project in Bangladesh, Fajriyah said, Pertamina would review the structure of the project planning.

"There are several things that must be restructured," Fajriyah said without elaborating.

PLN's Strategic Procurement Director 2 Djoko Rahardjo Abumanan has not been able to intervene in this issue.

"Members of the consortium must immediately resolve internally," he said.

But if the conflict disrupts the project operational schedule, PLN will ask for clarification. Until this article goes to press, Marubeni has not been willing to provide confirmation.

"I want to translate and confirm to internal first," said Director of Marubeni Indonesia Slamet Muhadi, when contacted by KONTAN.

Marubeni also has several projects in Indonesia, including the Cirebon Unit II PLTU project, which partners with PT Indika Energy Tbk (see table).

"Until now there has been no influence on the Cirebon project," said Indika Energy's CEO, Azis Armand.

At present, the Cirebon II physical development project is already 60% and the target is by the end of 2021 completed.

IN INDONESIA

Kongsi Pertamina dan Marubeni akan Berakhir

Kisruh konsorsium Pertamina dan Marubeni di proyek PLTGU Jawa-1 bisa berlanjut

Kongsi antara PT Pertamina dan Marubeni di proyek kelistrikan akan berakhir. Keretakan hubungan kedua perusahaan tersebut berawal dari proyek pembangkit listrik tenaga gas dan uap (PTGU) Jawa 1 di Cilamaya, Jawa Barat. Tensi di antara anggota konsorsium PTGU Jawa-1 semakin meningkat. Anggota konsorsium Jawa-1 yakni PT Pertamina Power Indonesia (PPI), Marubeni Corporation dan Sojitz Corporation. 

Kedua perusahaan terakhir adalah perusahaan dari Jepang. Nah, anak usaha Pertamina ini agaknya sedang berseberangan dengan Marubeni di proyek PLTGU Jawa 1 (lihat tabel). Dalam menggarap proyek pembangkit berkapasitas 1.760 megawatt (MW) itu, Marubeni dianggap tidak mengedepankan etika bisnis. Ada pula pelanggaran tingkat kandungan dalam negeri (TKDN) serta efisiensi biaya proyek.

Direktur Utama PPI Ginanjar Sofyan, sempat mengirim Surat kepada tiga investor pendanaan proyek PLTGU Jawa-1, yakni Japan Bank for International Cooperation (JBIC), NEXI dan ADB. Sebelumnya, konsorsium ini berhasil meraih financial close dengan Lenders JBIC dan berhasil meraih development fee US$ 55 juta.

Dugaan isu inefisiensi juga diketahui dari dokumen permohonan pelaksanaan investigasi pada proyek IPP Jawa-1 yang disampaikan oleh Ginanjar kepada Chief Audit Executive PT Pertamina tertanggal 13 September 2019. Berdasarkan salinan dokumen yang dipegang KONTAN, PPI menilai Marubeni inkonsisten dengan konsep yang diusulkan, namun pada akhirnya mereka komplain kepada Pertamina termasuk perihal usulan program apresiasi.

Ketegangan antara Pertamina dan Marubeni di PLTGU Jawa-1 akhirnya berimabs pada proyek pembangkit di Bangladesh. Di proyek ini, Marubeni juga anggota konsorsium pimpinan PPI. Oleh karena itu, PPI dikabarkan memilih mitra baru, salah satu perusahaan multinasional dari Jepang. Vice President of Corporate Communication PT Pertamina Fajriyah Usman enggan mengomentari masalah ini. Terkait pembangunan PLTGU Jawa-1, menjamin tahap konstruksi pembangkit ini berjalan sesuai rencana.

"Proyek Jawa-1 akan beroperasi dengan baik, Pertamina berkomitmen," kata Fajriyah.

Tentang proyek pembangkit di Bangladesh, Fajriyah bilang, Pertamina akan mengkaji ulang struktur perencanaan proyek itu. 

"Ada beberapa hal yang harus di-restructure," kata Fajriyah tanpa memerinci.

Direktur Pengadaan Strategis 2 PLN Djoko Rahardjo Abumanan belum bisa intervensi dalam permasalahan itu. 

"Anggota konsorsium harus segera menyelesaikan secara internal," kata dia. 

Namun jika konflik mengganggu jadwal operasional proyek, PLN akan minta klarifikasi. Hingga tulisan ini naik cetak, Marubeni belum bersedia memberikan konfirmasi.

“Saya minta translate dan konfirmasi ke internal dulu," ujar Direktur Marubeni Indonesia Slamet Muhadi, saat dihubungi KONTAN.

Marubeni juga punya beberapa proyek di Indonesia, termasuk proyek PLTU Cirebon Unit II, yang berkongsi dengan PT Indika Energy Tbk (lihat tabel). 

"Sampai saat ini tidak berpengaruh di proyek Cirebon," kata CEO Indika Energy, Azis Armand. 

Saat ini, proyek pembangunan fisik Cirebon II sudah 60% dan targetnya akhir tahun 2021 selesai.

Kontan, Page-1, Tuesday, November 5, 2019

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