J-Power, Partners Delay $4 Billion Indonesia Coal Power Plant

Japan’s Electric Power Development Co. (9513)Itochu Corp. (8001) and Indonesia’s PT Adaro Energy (ADRO) further delayed the schedule for securing financing for their $4 billion coal-fired power plant in Indonesia.

The group pushed back the deadline by a year to October 2014 after it faced delays acquiring land, Junichiro Hoshino, a Tokyo-based spokesman at Electric Power Development, or J-Power, said in a phone interview today. They have acquired more than 80 percent of land needed for the 2,000-megawatt power plant in Batang, Central Java, he said. Company officials at Itochu in Tokyo and Adaro in Jakarta were unable to comment immediately when contacted by phone today.

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Posted October 7, 2013 by repit in News

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