PTBA secures loans worth Rp2 trillion to build power plant
Thursday, September 30 2010 - 02:28 AM WIB
State owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has secured loans worth about Rp 2 trillion from state owned Bank Mandiri to finance the construction of a new coal-fired power plant.
PTBA?s president Sukrisno said in Jakarta on Wednesday the construction of the new power plant which, would have a capacity of 2 x 100 megawatt, would cost about $320 million.
?About Rp 2 trillion (about $224 million) will be provided by Bank Mandiri and the rest will come from our own funds,? he said.
He said that the construction of the plant in Banjarsari, South Sumatra was now underway and was expected to be completed in 2013. (*)