Jababeka eyeing $109m syndication loans to build 130-MW power plant

JSX Listed firm PT Kawasan Industri Jababeka (KIJA) is in negotiations to raise about US$108.75 million in syndicated loans with several foreign and local banks to build a 130-MW gas turbine power plant in Jababeka Industrial Estate III.

 

The company's corporate secretary Muljadi Suganda said in Jakarta Wednesday that the loans would account for about 70 percent of the total funds needed for the power project.

 

“The syndicated loan was currently under negotiations,” he said, while refusing to unveil the names of the lenders.

 

The company would use its own funds to finance the 30 percent of the total costs.

 

“The company has got the license. So the construction of the power plant could start later this year. The construction of the power plant is expected to be completed in 2009,” he said in July 2007. (*)