Geo Dipa bags loan to develop W. Java geothermal plant
Tuesday, September 29 2009 - 04:50 AM WIB
Geothermal developer PT Geo Dipa Energi on Tuesday secured US$103 million loan from IDX-listed state bank BNI to develop the first unit of Patuha power plant in West Java.
The loan will mature in 11 years with interest ranges between 9-9 percent PA.
The company will build 55MW power plant unit in Patuha with commercial operations slated to start in 2012, President Director Praktimia Semiawan said.
Geo Dipa is planning to develop three power plant unit of similar size with its concession area.
Geodipa is a joint venture company between state oil, gas company PT Pertamina and state electricity firm PLN. (godang)