Indonesia Power looking for funds to develop Tarahan power project

PT Indonesia Power, the subsidiary of state-owned utility firm PT Perusahaan Listrik Negara (PLN), is inviting any interested companies to participate in securing funds for a power project in Lampung province.

The firm said in an advertisement published in Kompas daily on Wednesday that it was looking for loans with the project as collateral without recourse to the firm and PT PLN.

The firm's operation director Achmad Sadikin confirmed that the project in question was the coal-fired Tarahan power plant which is designed to have the capacity of about 220 megawatts.

The firm said in the ad that companies that are interested to become lenders, loan syndicate or arrangers must have an international reputation, have financial supports and have got a minimum A rating from international/national rating agencies.

They must also have experience in funding projects worth more than US$100 million in Indonesia with banks or financial institutions with international reputations. They must also be ready to provide funds with ?full commitment?.

The firm called on any interested companies to register themselves with the company?s headquarters from May 29 through May 30, 2006. (godang)