Sumitomo completes financial closing for Java power plant: PLN
Wednesday, December 17 2008 - 07:11 AM WIB
Japanese firm Sumitomo Corporation has completed financial closing for the expansion of Tanjung Jati B coal-fired power plant in Central Java, a state electricity firm top official said on Wednesday.
PLN President Fahmi Mochtar said the company has received funding commitment of US$1 billion to develop another 1,320-MW power plant from Japan Bank for International Cooperation (JBIC).
Sumitomo plans to double the capacity of Tanjung Jati B to 2,640 MW from 1,320 MW at present.
Director General of Electricity at the Ministry of Energy and Mineral Resources J. Purwono said in September 2008 that construction would be started in 2009 and is expected to be completed in the next three years.
Sumitomo, through its wholly-owned unit PT Central Jawa Power will sell the electricity to PLN at the price of $4.3 cent per kwh said Purwono. (Bernard)