Funding for Cirebon power plant project expected next month
Thursday, November 10 2016 - 03:21 AM WIB
Private power firm PT Cirebon Energi Prasarana (CEPR) hopes to obtain funding commitment from creditors for its 1,000 MW Cirebon II coal-fired power plant project in West Java next month as the Ministry of Finance is set to issue the required business feasibility guarantee (or SJKU) by Thursday at the latest, Bisnis Indonesia reported.
?The loan agreement is only waiting for the SJKU which is to be issued today or tomorrow,? Cirebon Energi President Director Heru Dewanto told the paper on Wednesday.
About 80 percent of the power plant project, which is an expansion of the existing 1x660 MW Cirebon coal-fired power plant, will be financed by creditors including JBIC, Export-Import Bank of Korea, and Nippon Export and Investment Insurance.
CEPR is a consortium comprising of Marubeni Corporation, Indika Energy Tbk, Samtan Co. Ltd, Korea Midland Power Co. Ltd, and Chubu Electric Power Co. Inc.(*)