Cirebon Electric Power gets $170m bridging finance
Thursday, February 11 2010 - 01:54 AM WIB
IDX-listed energy and contractor firm PT Indika Energy Tbk reported on Wednesday that its associate company PT Cirebon Electric Power (CEP) has on February 8, 2010 signed a US$ 170 million bridging loan from ING and other financial institution.
The loan was signed to finance development of CEP?s 1x660 MW coal-fired power plant in Cirebon, West Java.
Indika, which has 20 percent stake in CEP has also signed guarantee for 20 percent of the total bridging loan received by CEP. (alex)