Financial closing of PLTU Batang power plant delayed again

State-owned electricity company PT PLN has approved a request from PT Bhimasena Power Indonesia (BPI) for another extension in the deadline of financial closing for PLTU Batang coal-fired power plant in Central Java, Bisnis Indonesia reported on Friday.

The paper quoted PLN Director Murtaqi Syamsuddin as saying that the financial closing has been delayed to April 6, 2016 from an earlier schedule of October 6, 2015.

He added that BPI this time around is optimistic to achieve the new deadline.

PLN has previously extended the deadline of the financial closing four times from the original schedule of October 6, 2012 as BPI, a consortium comprising of IDX-listed coal giant PT Adaro Energy Tbk, and Japan?s J-Power Energy Power Development Co. Ltd. and Itochu Corp., had been facing difficulties in acquiring the required land for the US$4 billion project.

Murtaqi said that PLN will continue efforts to acquire the remaining 12 hectares of land for the project. (*)