medcom.id, Jakarta: Power plant project in Batang Regency, Central Java finally reaches financial close. The Indonesian government is scheduled to officiate the financial close ceremony on Thursday (6/9).
The 2x1,000 megawatt (mw) power plant has been delayed for more than four years due to land acquisition issue. It is touted to be the largest coal-fired power plant in Southeast Asia.
The Coordinating Ministry of Economic Affairs previously scheduled the ceremony for today (6/8). However, President Joko Widodo asked the ceremony to be moved to Thursday (6/9).
"President just called asking the financial close to be held tomorrow (Thursday) in Palace," said the ministry's secretary Lukita Dinarsyah Tuwo, Jakarta, Wednesday (6/8/2016).
The project is estimated to cost USD4 billion. The Japan Bank for Internatinal Cooperation (JBIC) has agreed USD2.05 billion loan agreement with PT Bhimasena Power Indonesia, a joint-venture of J-Power, Itochu and Adaro Energy.
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