Wika will compete with Indo Tambangraya Megah, Adaro Energy and Indika Energy, with their respective consortiums from China and Japan, for the Jawa 5 and Jawa 7 power plant projects. (GA Photo/Mohammad Defrizal)

Wika Eyeing to Secure CDB Loan for Banten Power Plants

BY :INVESTOR DAILY

SEPTEMBER 28, 2015

Jakarta. A consortium led by state construction company Wijaya Karya is seeking to secure loans of up to Rp 25 trillion ($1.7 billion) as part of a plan to build power plants in Banten province.

The power plants, called Jawa 5 and Jawa 7, would have a total capacity of 4,000 megawatts and cost about Rp 35 trillion, said Wika corporate secretary Suradi.

Wika will work with Chinese utility firm China Nuclear Engineering and local company Sumber Segara Primadaya.

The consortium may apply for the loan facility at China Development Bank, which would be disbursed through state-owned lenders, Suradi said.

The company has already submit its proposal to state utility company PLN.

Wika will compete with local rivals Indo Tambangraya Megah, Adaro Energy and Indika Energy, and their respective consortiums from China and Japan, for the projects.

PLN will announce the tender result by the end of this year.

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