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China to finance Indonesian power plant projects

The China Import-Export Bank is financing three projects of steam power plant in several provincial areas in Java Island, Indonesia.

“Negotiation with the bank will be in the final phase of the projects. Contract is expected to be signed next month,” the Indonesian Business daily Thursday quoted the commissioner of the state owned power company (PLN) Alhilal Hamdi, as saying.

The three projects will be located, one in East Java and two in West Java, with a capacity of 2x330 MW and 2x315 MW respectively.

Terms and condition of the loan, obtained from the bank is similar with the previous power plant in Indramayu West Java (170 km from Jakarta).

Nevertheless, there is a little rise of interest rate due to the escalating interest spreading throughout the global market. (Xinhua)