DSSA starts withdrawing loan to build S. Sumatra power plant
Tuesday, October 8 2013 - 01:37 AM WIB
IDX-listed PT Dian Swastatika Sentosa Tbk (DSSA), which is engaged among others in power and steam generation, and coal mining, has withdrawn US$50 million of the total $318 million lending facility provided by China Development Bank for the financing of a coal-fired power plant in South Sumatra, Kotan daily reported on Tuesday.
The paper quoted company Director Hermawan Tarjono as saying that the supporting machinery has arrived, paving the way for the construction of the 2x150 MW power plant to start early next year, in the hope that it could be completed in 2015.
Hermawan said that until the end of this year, DSSA is expected to withdraw a total of $80 million of the lending facility.
PT DSSP Power Sumsel, a joint venture between DSSA and its IDX-listed coal mining subsidiary PT Golden Energy Mines Tbk, has been appointed to develop the power plant, which is located in Musi Banyuasin. (*)