Indonesia Power secures loan to develop Lampung power plant
Friday, August 29 2003 - 08:38 AM WIB
PT.Indonesia Power, a subsidiary of state electricity firm PLN said it had secured US$ 180 million in commercial loan from Exim Bank of China to develop 2x100MW coal-fired power plant in Tarahan, Lampung province.
?Exim Bank of China had agreed to provide $180 million in loan, but we are still trying to negotiate to get lower interest rate,? said Indonesia Power development and commerce director Djuwano on Friday.
Djuwarno said construction of the power plant was expected to commence in 2005, with completion targeted in 2007. He added that Indonesia Power would soon opened tender to select contractor.
Djuwarno said that coal supply would be procured from state coal miner PT. Tambang batubara Bukit Asam, which runs coal mine in Muara Enim, South Sumatra.
Power generated from the plant would be supplied to Sumatra power grid, he said. (godang)