United Tractors Tbk PT : Construction of Tanjung Jati B Coal-fired Power Plant Units 5 & 6 Expansion Project (2,000 MW) Commences
April 04, 2017 at 08:43 am
Share
PT Bhumi Jati Power ('BJP') has satisfied the required conditions precedent for the project financing of the Tanjung Jati B coal-fired power plant Units 5 & 6 Expansion Project or also called Pembangkit Listrik Tenaga Uap (PLTU) Jawa-4 ('Project') and commenced construction work on the Project on March 31, 2017. BJP is owned by Sumitomo Corporation, The Kansai Electric Power Co., Inc., and PT United Tractors Tbk, through wholly-owned subsidiaries, respectively Sumi Energy Ventures LLC, KP Power Development B.V. , and PT Unitra Persada Energia.
This BOT (Build, Operate and Transfer) Project will cost approximately US$4.2 billion, and the project cost mainly funded with the loan from the Japan Bank for International Cooperation (JBIC) and a syndication of seven commercial banks: Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Trust Bank, Limited, Mitsubishi UFJ Trust and Banking Corporation, The Norinchukin Bank, and Singapore's Oversea-Chinese Banking Corporation Limited covered by NEXI Overseas Investment Insurance.
BJP will build two new units of a high efficiency ultra-supercritical coal-fired power plant (generation capacity of 2,000 MW) that introduces efficient and environmentally friendly technology in an area adjacent to the existing Tanjung Jati B coal-fired power plant (Units 1-4), located in Jepara Regency, Central Java. The power plant will supply electricity over a period of 25 years to Indonesian power utility company PT PLN (Persero), following the completion of plant construction.
The project is scheduled to achieve commercial operation in 2021 and positioned as a part of 35,000MW power plants construction program promoted by Indonesian government.
Profile of PT Bhumi Jati Power ('BJP')
BJP is a joint venture company established for the purpose of development and operation of the Project. PT Unitra Persada Energia holds 25% shares, Sumi Energy Ventures LLC holds 50% shares, and KP Power Development B.V. holds 25% shares in BJP.
PT United Tractors Tbk published this content on 04 April 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 April 2017 12:43:05 UTC.
Original documenthttp://www.unitedtractors.com/news/construction-tanjung-jati-b-coal-fired-power-plant-units-5-6-expansion-project-2000-mw
Public permalinkhttp://www.publicnow.com/view/E9A72F5112E7FC09F9114A8B86C7D78ACA1E4422
PT United Tractors Tbk is engaged in various business activities, including sales and rental of heavy equipment (Construction machineries) and the related after sales services; mining and mining contracting; engineering, planning, assembling, and manufacturing components of machinery, tools, parts, and heavy equipment; vessel construction and vessel related repair services; vessel charter and shipping services; construction industry; power plant, and fishery industry. Its segments include construction machinery, mining contracting, coal mining, gold mining construction industry and energy. The construction machinery segment includes sales and rental of heavy equipment and after sales services. The mining contracting segment offers mining services to mining concession holders. The coal and gold mining segment focuses on the mining and selling of coal and gold. The construction industry segment provides construction services. Energy segment provides services and sales related to energy.