JBIC to finance Muara Tawar power plant expansion

Japan Bank for International Cooperation (JBIC) has expressed its keen interest to finance the expansion of the PLTGU Muara Tawar combined cycle power plant in Bekasi which is estimated to cost up to US$900 million.

Speaking in Jakarta on Monday, state owned electricity company PLN?s president director Fahmi Mochtar said that the expansion of the Muara Tawar plant would be carried out this year as part of the government?s Phase Two 10,000 MW fast track power plant development program.

Under the expansion plan, the capacity of the Muara Tawar plant would be doubled from currently 1,800 MW, he said, adding that JBIC was among several foreign financial institutions which had expressed their interest to take part in the Phase Two fast track program.

The government expects an additional power supply of 9,963 MW under the under the Phase Two track program. Of the total, 2,616 MW are expected to come from coal-fired power plants, 1,440 MW from gas-fired power plants, 4,733 MW from geothermal power plants and 1,174 MW from hydro power plants.

Fahmi said that the entire projects would require investments of up to $17.25 billion. PLN would provide $.3.82 billion with the remaining $13.43 billion are expected to come from investors. (*)