Dian Swastatika expects financial closing of IPP Sumsel-5 this November

By Hiski Darmayana

IDX-listed PT Dian Swastatika Sentosa Tbk recently stated it expects to reach financial closing of the steam power plant project IPP Sumsel-5, currently handled by subsidiary PT DSSP Power Sumsel, in November this year.

"This is to comply with the deadline provided by state electricity company PT PLN as consumer," said DSSA President Director Krisnan Cahya in Jakarta, adding that the project's commercial operation should start in 2015.

The 2x150MW IPP Sumsel-5 power plant is expected to take up to US$300 million worth of investment, with the company still in the talks with a China based bank for a loan.

"The loan will cover 70 to 80 percent of all the needed investment, with the remaining to be sourced from the company's internal funding. We could say that 50 percent of the loan acquiring process is already completed," he said.

Editing by Er Audy Zandri