A 300-megawatt coal-fired power plant may be built in Jeneponto, South Sulawesi, at a cost of $330 million.
The Bosowa Group, a Makassar-based conglomerate with diversified business interests, plans to build The plant that will be funded through Bosowa Energy.
The new power plant will be located adjacent to the group’s existing coal-fired plants in Jeneponto.
Erwin Aksa, chief executive of Bosowa Corporation, the holding company of the group, said that 60 percent of the funding would come through a loan from China Construction Bank. Local lenders will also participate but to a lesser degree.
Bosowa has two operating coal-fired power plants in the district, each with a capacity of 125 megawatts.
In addition to the third plant in Jeneponto, Bosowa is looking to build two other coal-fired power plants, each with a capacity of 300 megawatts. It did not say where the plants would be located.
“We are processing all of the licenses in Jakarta,” Aksa said. “While we’re waiting for that, we are already starting to prepare some of the equipment, such as the construction equipment.”
Both projects are expected to start next year and be in operation by 2014.
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