State Electricity Company to Sign More Contracts With Five Banks
Sunday, 13 December, 2009 | 09:00 WIB

TEMPO Interactive, Jakarta: The State Electricity Company was planning to sign the remaining loan for the first batch of 10 megawatts power plants projects with one foreign bank and four national banks on Monday (14/12).

The loan from Bank of China of US$371.51 million (or Rp3.5 trillion) will be used to finance the 2 X 350 megawatts coal power plant in Tanjung Awar-Awar, East Java.

PT Bank Rakyat Indonesia Tbk (BRI) and PT Bank Central Asia Tbk (BCA) to finance four projects, two 2 x 7 megawatt plants in Tanjung Bale Karimun (Riau Islands Province and Selat Panjang (Riau Province), a 2 x 10 megawatt plant in Bengkalis (Riau Provinnce) and a 2 x 50 megawatt plant in Parit Baru (West Kalimantan) with a total of US$87.19 million and Rp635.93 billion.

A joint financing scheme of Rp2.61 trillion between BCA, BRI, and PT Bank Negara Indonesia (BNI) will fund the Java-Bali power transmission network while another joint financing of Rp1.93 trillion netween BNI, BRI, and Mandiri will fund the outer Java-Bali power network.

The four local banks will also sign another joint project to build Gas Insulated Switchgear (GIS) substation and a 150 kilovolt underground cable lines in Jawa worth about Rp 327.19 billion.

RIEKA RAHADIANA