JAKARTA, May 29, 2009
A consortium of Indonesian banks led by Bank Rakyat Indonesia (BRI) (JSX:BBRI) has pledged a loan of US$328 million for state electricity company PLN.
The loan fund will be used to finance the construction of coal-fired power plants in Pangkalan Susu North Sumatra and in Tarahan in South Lampung, PLN vice president Rudiantara said.
The two projects are part of PLN's crash program to build coal-fired power plants with a total capacity of 10,000 megawatts to be completed next year, the newspaper Bisnis Indonesia said.
The Pangkala Susu plant will have a capacity of 400 MW to be built by a consortium of Chuan Dong China, PT Bagus Karya Jakarta and PT Nicek Bandung at a cost of US$270 million.
The one in Tarahan will have a capacity of 200 MW to be built by Jiangxi Electric Power Overseas Engineering from China and PT Adhi Karya to cost around US$154.27 million and Rp595.1 billion.
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