Barclays to provide $261m loans for C. Java power project
Wednesday, November 12 2008 - 01:11 AM WIB
PLN?s President Director Fahmi Mochtar said in Jakarta on Tuesday that the company had recently received a commitment from the British bank to provide the funds for the Rembang power plant, which would have a capacity of 2 x 315 megawatt.
?We hope the loan could be signed within the next two weeks,? he said, adding that the government had given a green light for the loan two months ago.
The power plant will be built by a consortium comprising of Zeland Holding and Tronoh Tronoh Consolidated Bhd of Malaysia and PT Priamanaya Djan International of Indonesia.
The consortium started the construction of Rembang power plant in September 2007. PLN said that the power plant would cost about Rp 6.82 trillion to build, which would comprise of US$338.8 million in foreign exchange and Rp 3.61 trillion in local funds.
The first unit of the power plant is expected to come onstream in September 2009 and the second in December 2009. The plant will consume 1.9 MTPA of low CV coal.
Rembang power plant is part of the government?s drive to build 10,000-MW of coal-fired power plants across the archipalego within the next 5 years. (godang)