PTBA seeking $140 million loan for Banjarsari power plant

State-owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) is presently looking for a loan of US$140 million to finance a coal-fired power plant project at Banjarsari in South Sumatra, the Bisnis Indonesia newspaper reported in its Friday edition.

PTBA’s company secretary Milawarman said his company has already approached 27 banks from both national as well as foreign to build the power plant.

“From Banjarsari project’s total cost of $203 million, around 60 percent of it or $140 million will be financed through a loan and the remaining 30 percent of the cost will be funded through consortium’s internal sources,” Milawarman told the Bisnis on Thursday in Jakarta.

PTBA along with Indonesia Power and other private companies are planning to build Banjarsari coal-fired power plant in South Sumatra with a capacity 2x100 megawatts.

After the completion of the project, PTBA will have 24 percent stake, Indonesia Power 51 percent and other private companies 25 percent in the power plant. (*)