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Jakarta Post

PLN ready to start 2nd 10,000 MW program

  • The Jakarta Post

Jakarta   /   Thu, August 20 2009   /  09:55 am

State electricity company PT PLN looks to build and manage 40 percent of the second 10,000 megawatt (MW) power program, with loans  from foreign banks, an official says.  “We are ready to construct 40 percent of the power plants while the rest will be by independent
power producers [IPPs],” PLN President Director Fahmi Mochtar told reporters on the sidelines of a breakfast meeting on Wednesday.“We will ask [for] loans from various foreign banks [to finance the projects],” he said, without detailing the amount needed to finance 40 percent of the program. The program is estimated to need US$17.3 billion. It reported that PLN will put up US$3.8 billion in investment for the 2nd 10,000 MW program, and IPPs $13.5 billion. Fahmi said that foreign banks involved  will include the Japan Bank for International Coorporation (JBIC), the World Bank, the Asian Development B...