INCO needs US$280 million to finance its dam project
Thursday, May 26 2005 - 02:13 AM WIB
Nickel mining company PT Intenational Nickel Indonesia (INCO) would decide in June the options to finance its dam project which will cost the company about US$280 million to build, Neraca reported on Thursday.
INCO initially planned to make a decision on the financing options of the dam project in May but it latter delayed the decision process until June, as the company needed longer time to assess the best options to finance the project.
The company is considering to issue bonds or to raise bank loans to finance the dam project, which will raise the generating capacity of its hydropower plant to 90 Megawatt.
The dam project will cost about $280 million to build, an increase from the company's initial estimate of $250 million. (*)