WB pledges $750 million for Cisokan power plant

The World Bank (WB) has pledged to provide loan worth about US$750 million to finance the construction of the 4 x 260 MW PLTA Cisokan hydropower plant in West Java.

Dedy Supriadi, the deputy chairman of the National Development Planning Board (Bapennas), said in Jakarta last week that the government expected to sign the loan agreement in December, this year.

Dedy said that the tender for the construction of the hydropower plant which would cost about $850 million was expected to be launched next year. ?WB would provide about $750 million in loan for the project, and the other $100 million is expected to come from local investors,? he added.

The government announced the pre-construction and construction phases for the project in February 2009. The Cisokan power plant will be part of the power projects to be built under the Phase Two 10,000 megawatt program. (*)