Adaro hopes financial closure for Tabalong power plant project soon
Thursday, June 9 2016 - 03:16 AM WIB
President Director of IDX-listed coal giant PT Adaro Energy Tbk, Garibaldi Tohir said that financial closure for the planned 2x100 MW coal-fired power plant in Tabalong, South Kalimantan, to be reached soon.
?God Willing, it (financial closure) could be probably reached in one or two months,? Garibaldi told Petromindo.com on Wednesday.
He said that about US$300 million of the required $400 million investment for the power plant project is expected to come from bank loans.
A consortium called PT Tanjun Power Indonesia (TPI), which is 65 percent owned by PT Adaro Power (a subsidiary of Adaro Energy), and 35 percent by Korea EWP, will develop the Tabalong power plant project.
TPI signed a power purchase agreement with state-owned utility firm PT PLN in 2014, under which the former will supply power from the Tabalong plant to the latter for 25 years.
Editing by Reiner Simanjuntak