BPI which is 59.75 percent owned by PTBA signed a credit agreement with the bank on Sept 15, 2011, PTBA corporate secretary Achmad Sudarto said in a public expose here on Friday.
He said BPI would use the loans to finance the construction of the Banjarsari mine mouth power plant with a capacity of 2x110 megawatts in Lahat district, South Sumatra province.
The construction of the power plant, scheduled for completion in mid 2014, would enable BPI to help meet rising power demand particularly in the southern part of Sumatra, he said.
Acting as an engineering procurement and construction (EPC) contractor for Banjarsari mine mouth power plant would be China National Electric Engineering Co Ltd (CNEEC), while EPC contractor for the construction of 24-km long transmission network from the power plant to Lahat relay station would be PT Citacontrac.
President Susilo Bambang Yudhoyono inaugurated the groundbreaking of the Banjarsari mine mouth power plant late last July.
(T.B008/S012/HAJM/F001)
Editor: Priyambodo RH
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