Chinese banks step up to boost Indonesian power projects

Two Chinese banks will lend $761m to Indonesia’s state-owned electric company next month, in the latest illustration that China’s lenders remain flush with cash despite the turmoil in the global markets.

  • 27 May 2009

China Development Bank has agreed to lend $468m to Perusahaan Listrik Negara, Indonesia’s largest electricity provider, to finance a 660MW coal-fired plant in Cilacap, Central Java, while Export Import Bank of China (Chexim) will commit $293m for a 630MW plant in Pacitan, East Java.

Fahmi Mochtar, president of ...

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