JBIC to finance two power plant projects

Rangga D. Fadillah, The Jakarta Post, Jakarta | Tue, 04/12/2011

The Japan Bank of International Cooperation (JBIC) said Tuesday it was ready to finance the development of two power plants in Central Java and North Sumatra with a total value of more than US$1 billion.

The bank's executive director, Fumio Hoshi, told reporters that negotiations on funding the two projects had reached the final stage and he expected the tender process could be completed in the near future.

“At the moment there is a tender for Central Java's supercritical coal-fired power plant project, [the winner will be announced next month], he said at the Indonesia International Infrastructure Conference and Exhibition 2011. “We’re also working on the Salula geothermal power plant in North Sumatra.”

Beside the two power plants, the JBIC might also finance other geothermal power plant projects in Sumatra, Hoshi revealed.

Two Japanese companies identified at least four potential geothermal fields on the island, he added.