JICA to provide soft loans worth $80 million to PLN
Wednesday, February 23 2011 - 02:28 AM WIB
The Japan International Cooperation Agency (JICA) has promised to provide soft loans worth about US$80 million to state electricity company PT Perusahaan Listrik Negara (PLN) to finance its geothermal power plant project in Maluku.
M. Sofyan, the head of PLN?s new and renewable energy department, said in Jakarta on Tuesday that the loan commitment would be signed in March, this year.
He said that the disbursement of the loan which would carry interest rate of 0.7 percent and maturity period of 40 years would be made after the feasibility study was completed in August.
He said that the Tulehu geothermal power plant which would have capacity of 20 megawatt would cost between $85 million and $90 million to build. ?In addition to the loans, PLN will also use its own fund to finance the project,? he added. (giok)