Financing close of Cirebon power plant project expected soon
Wednesday, April 19 2017 - 04:02 AM WIB
Petromindo
Financing close of a 1,000 MW coal-fired plant expansion project in Cirebon, West Java is expected to be made soon, paving the way for the start of construction process, Kontan reported on Wednesday.
?The project will receive funding soon,? said Heru Dewanto, President Director of PT Cirebon Energi Prasarana to the paper.
He explained that three international lenders including Japan Bank for International Cooperation, Korea Eximbank, and Nippon Export and Investment Insurance are expected to provide loans of up to US$1.7 billion project for the Cirebon Power expansion project, which is estimated to require total investment of $2.2 billion.
PT Cirebon Energi Prasarana (CEPR), which is owned by a number of firms including IDX-listed PT Indika Energy Tbk, Marubeni Corporation, Samtan Co. Ltd, Korea Midland Power Co. Ltd, and Chubu Electric Power Co. Inc, plans to develop the project, an expansion of the existing 1x660 MW Cirebon coal-fired power plant. The project is targeted to be completed in 2020. (*)