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Jakarta Post

Govt to tender out financing of five coal-fired power plants

  • Ika Krismantari

    The Jakarta Post

Jakarta   /   Wed, March 19 2008   /  12:20 am

The Finance Ministry will invite local and foreign banks in late March to a tender for the financing of five power plant projects estimated to cost US$2.18 billion, says an official. The head of the government's power sector development team, Yogo Pratama, told reporters Tuesday the tender aimed to secure loans of up to $1.85 billion, or about 85 percent of the total needed to build the projects. Yugo's team directly reports to President Susilo Bambang Yudhoyono. The five coal-fired power plant projects will be built under the government's "crash 10,000 MW" power program. Plants include the 600-megawatt (MW) Pacitan plant in East Java, the 900 MW Teluk Naga plant in Banten, the 900 MW Pelabuhan Ratu plant in West Java, the 200 MW Lampung plant and the 400 MW North Sumatra plant. "We expect the signing on the loan agreements to be completed w...