Indonesian Electricity Company Needs 11 Bln U.S. Dollars for New Power Plants
Posted on: Sunday, 26 March 2006, 09:00 CST
Indonesian electricity company needs 11 bln U.S. dollars for new power plants
JAKARTA, March 25 (Xinhua) -- Indonesia's state electricity company PT PLN said it needed to invest between 10 billion and 11 billion U.S. dollars in new power plants to provide an additional capacity of 3,300 megawatts (MW) by 2009.
The firm's President Eddie Widiono was quoted on Saturday by the Jakarta Post as saying that PLN was considering tapping the bond market to help finance the projects.
"The construction of the plants, which will be coal- and natural gas-fired, has to be completed by 2009 to meet the increasing demand for electricity and simultaneously reduce our reliance on oil," Eddie said.
Indonesia currently operates a number of oil-fired plants with a total capacity of 8,900 MW.
The construction of the new plants was essential to boosting the firm's efficiency following the government's decision to cancel a proposed electricity price hike, he said.
PLN had earlier demanded price increases to cover its deficit.
Source: Xinhua News Agency - CEIS
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