Nani Afrida , The Jakarta Post , Jakarta | Mon, 11/23/2009 10:39 PM
State electricity producer PT PLN on Monday revealed it would hold put three new electricity projects to tender, to be financed by export credit.
The projects are to install submarine cable in Bali; to empower network and electricity distribution in Jakarta and to upgrade the capacity of the Muara Tawar add-on gas and coal-fired power plant (PLTGU) in Bekasi, West Java.
“We will hold a tender for these projects,” PLN planning and technology director Bambang Praptono told reporters at the House of Representatives in Jakarta on Monday.
The submarine cable project is worth US$60 million (Rp 6 trillion), while the projects in Jakarta and West Java are worth $300 million and $1 billion.
Bambang said several foreign financing institutions had voiced interest in the projects already. The institutions are the Japan Bank for International Corporation (JBIC), the Japan International Coorperation Agency (JICA) and German Bank, KfW.
Funding for the projects would be taken from export loans and PLN's internal budget, Bambang said.
“For example, the Muara Tawar project requires $1 billion, so it will take $850 million from export loans and $150 million from PLN,” he said.
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