Local power firm gets loan from BCA
Tuesday, August 10 2004 - 10:57 AM WIB
Power plant firm PT. Mitra Energi Batam (MEB) on Tuesday received Rp.195 billion (US$ = Rp.9, 100) investment credit from Indonesia?s top bank PT. Bank Central Asia (BCA) to build the latter?s 55-MW combined cycle power plant in industrial island of Batam.
MEB is 54 percent owned by JSX-listed oil firm PT. Medco Energi International Tbk. Other shareholders are state electricity firm PLN (30 percent) and PLN Foundation (16 percent).
Medco CFO Sugiharto told reporters that the plant would require investment of Rp.290 billion. The plant?s construction, which commenced last year, will be completed this coming September.
PLN would purchase the electricity generated at Rp.197 per kwh. Gas will eb supplied by PGN, which charges US$ 2.99 per MMBTU.(*)