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Jakarta Post

PLN to secure $761m in loans from Chinese banks in June

  • Alfian

    The Jakarta Post

Jakarta   /   Tue, May 26 2009   /  12:34 pm

State utility firm PT PLN is set to secure another US$761 million in loans from Chinese banks next month to help finance its 10,000 megawatt (MW) electricity project, president director Fahmi Mochtar said Monday. Fahmi said PLN would receive a loan amounting to $468 million from the China Development Bank for the Adipala power plant in Cilacap, Central Java. PLN would receive another $293 million loan from the Export-Import Bank of China to finance the Pacitan plant in East Java. "The loan agreements will be signed on June 10 during the inauguration of the Suramadu Bridge. Pak President (Susilo Bambang Yudhoyono) will attend the signing ceremony," Fahmi said. The Adipala power plant has a capacity of 660 megawatts, while the Pacitan power plant has a capacity of 2x315 megawatts. Fahmi said the loan agreement in June would secure all the dollar investment ...