Chinese bank to finance Tanjung Kasem power plant
Monday, June 14 2004 - 03:09 AM WIB
Industrial and Commercial Bank of China (ICBC) will likely finance the construction of the 110-MW coal-fired power plant that will be built in Tanjung Kasem, Batam at total cost of US$120 million, Bisnis Indonesia reported on Monday.
President director of PT Pelayanan Listrik Nasional Batam, Ery Ifyandi, said in Batam last week that it was almost certain the Chinese bank would act as the financier of the power plant.
“On June 20, we will know whether the Chinese bank is selected or not. If things go right, the construction of the power plant can be signed later this year,” he said.
Three companies – two from China and one from South Korea – have been shorlisted to join the final bidding for the construction of the Tanjung Kasem power plant.
Ery said that Dong Fang Elctric Co Ltd of China with its financier Industrial and Commercial Bank of China (ICBC) might win the tender because its bidding price was lower than those of the other two. (*)