PT Bukit Pembangkit Innovative (BPI), a power plant that is 59.75% stake owned by the state-controlled coal miner PT Bukit Asam Tbk (PTBA), has secured US$219.79 million loan facility from PT Bank Negara Indonesia Tbk (BNI).
The loan agreement was signed on September 15 2011. Under the agreement, Bukit Innovative will use the facility to construct a mouth mine power plants Banjarsari with capacity of 2x110 MW in Lahat, South Sumatra.
EPC contractor of the Banjarsari power plant is China National Electric Engineering Co Ltd (CNEEC). PT Citracontrac has also been mandated as EPC contractor that will construct a 24 km of transmission infrastructure from Banjarsari power plant to main station in Lahat.
The power plant is estimated to be completed in 2014, enabling the company to supply electricity in southern of Sumatra.
Disclosure: No position at the stock mentioned above.
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