Geodipa bags $90m loan to develop W. Java geothermal project
Thursday, September 3 2009 - 04:49 PM WIB
Geothermal developer PT Geodipa Energy said it has secured US$90 million loan from state-owned bank Bank BNI to develop Pathuha 55-MW power plant in West Java, President Director Praktimia Semiawan said as quoted by Kontan.
Semiawan said loan agreement could be signed in October this year with construction seen to start early next. Construction of the power plant would take 18 months, he said.
Total investment needed to develop the power plant is around $143 million, he said.
Geodipa is a JV between state electricity firm PLN and state oil, gas company PT Pertamina.(*)