(MENAFN - Saudi Press Agency) PT DSSP Power Sumsel, a subsidiary of Indonesian conglomerate Sinar Mas Group, secured a 3 trillion Indonesian rupiah about (about US312.7 million) of loan from the China Development Bank to finance its coal-fired power plant in South Sumatra province.
The loan would be used to procure equipment, power machines from the China National Electric Engineering Co. Ltd. for the Indonesian company's 2X150 MW coal-fired power plant, according to China's 'Xinhua' News Agency.
The project, worth US400 million, is scheduled to commence operation in 2015.
The first phase consists of power plants fueled by coal and the second phase would consist of power plants powered by renewable sources and geothermal ones. Some 45% of the first-phase projects has been completed as of now.
The Indonesian government is in intensive efforts to build power plants to meet the growing needs for electricity in the country. It has set an ambitious plan to build new power plants in two phases with a total capacity of 10,000 MW in each phase, scheduled to entirely be completed in 2018.