Indonesia power firm to sign deal for $900m loans
Tuesday, 14 April 2009
JAKARTA, Apr 13 (Reuters): Indonesia's state power firm, PT Perusahaan Listrik Negara , said on Monday it will sign next month Chinese-led loans worth about $900 million to help finance construction of three power plants.
The government has a crash programme to raise power capacity by building 10,000 megawatts of coal-fired power plant by 2011 to help Southeast Asia's biggest economy cope with a worsening power crisis.
But, a PLN source told Reuters on Feb. 24 that the programme involving a large proportion of Chinese lending and contractors would likely be delayed due to financing problems and only 60 per cent of the power plants were likely to be in place by 2011.
The government has a crash programme to raise power capacity by building 10,000 megawatts of coal-fired power plant by 2011 to help Southeast Asia's biggest economy cope with a worsening power crisis.
But, a PLN source told Reuters on Feb. 24 that the programme involving a large proportion of Chinese lending and contractors would likely be delayed due to financing problems and only 60 per cent of the power plants were likely to be in place by 2011.