JAKARTA (Yosefardi) – PT Indika Energy Tbk (INDY) allocates US$2 billion fund for power plant project with capacity of 1,000 megawatts in Cirebon, West Java, Tribunnews.com reported.
Heru Dewanto, Chief Business Development Officer for Power and Gas at Indika, said state electricity company PT Perusahaan Listrik Negara (PLN) will also take part on the project.
He said the project will be funded by loan (70%) and INDY’s internal cash (30%).
Indika has built coal-fired power plant in Cirebon with capacity of 660 MW.
New power plant project will be operated by Cirebon Electric Power (CEP), a joint venture company of Marubeni, Korea Midland Power, Korea’s Samtan Corporation Ltd, and Indika Energi.