REPUBLIKA.CO.ID, JAKARTA -- Two state owned enterprises (SOEs), PT Sarana Multi Infrastruktur (SMI) and PT Indonesia Infrastrukture Finance (IIF) to provide financial support to PT Energi Listrik Batam (ELB) for construction gas power plant PLTG Tanjung Ucang in Batam, Riau Islands Province.
"Financing the construction of this power plant somewhat contribute to the additional power supply in Indonesia, especially on the island of Batam and the surrounding areas," Director of Financing and Investment of PT SMI, Nasrizal Nazir, said in a joint statement released by SMI-IIF recently.
He said, the funding means to cope increasing electricity demands of an average of 9.3 percent per year and in line with efforts to increase the electrification ratio in Indonesia which targeted to increase 90.9 percent in 2019. The signing of SMI and PT IIF financing agreement to, subsidiaries of PT Medco Power Energy, PT Energi Listrik Batam, has been done in Jakarta on Friday (18/10).
The project is expected to be completed in December 2014. The power will be able to generate electricity for 2x35 MW for the community and industry on the island of Batam and the surrounding areas. Financing facility is also seen as a support of SMI and IIF to ELB as a project sponsor for the development of electrical power on the island of Batam and the surrounding areas.
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