Pertamina expects JBIC?s loan for Ulubelu project to be disbursed end of 2005
Wednesday, November 9 2005 - 03:04 AM WIB
?We, together with PLN, are currently in talks with JBIC. We hope that around US$10 million of the loan for the Ulubelu geothermal project could be disbursed by end of this year,? company general manager Sukusen Soemarinda said Wednesday.
In March, JBIC signed official development assistance (ODA) loan agreements with Indonesian government in the aggregate total of 104.035 billion yen or about US$887.2 million for nine projects including around $173 million for the Ulubelu geothermal project.
Pertamina operates the Ulubelu geothermal working areas. The company is still negotiating with state-owned electricity firm PT PLN on steam sales as PLN plans to build geothermal power plant in the location.
The Ulubelu project consists of the construction of a 110 MW-capacity power plant, which will be connected to the South Sumatra system.
Sukusen said Pertamina is to begin preparation for road access to location of the project and had scheduled to carry out a drilling program next year. (godang)