TransCanada buys interest in Paiton
TransCanada PipeLines Ltd. has purchased a 10 percent interest in Indonesia`s Paiton project, including building and operating two coal-fired power plants. The Paiton project is one of the largest power projects in southeast Asia with two 615 MW coal-fired plants. Terms of the sale were not disclosed. The first plant is scheduled for completion in November 1998 and the second in May 1999. TransCanada purchased 10 percent of the 12.5 percent interest in the project held by General Electric Capital Corp. through its Netherlands limited partnership.