JBIC, South Korea’s EximBank to Finance Coal-Fired Power Plant in Cirebon

The Japan Bank for International Cooperation and the Export-Import Bank of Korea have agreed to extend loans to finance the development of a coal-fired power plant in Cirebon, West Java.

The power plant will be owned by Cirebon Electric Power. CEP, established in April 2007, is composed of a group of several companies, including Marubeni Corporation, Korea Midland Power, Samtan and Indika Energy.

Wishnu Wardhana, president director of Indika Energy, Indonesia’s third-largest coal producer, said the consortium has gained commitment from two international lenders to build the plant.

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Posted October 17, 2013 by repit in News

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