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Bank of China (Sichuan Branch) contributes $191 million to $454.9 million syndicated loan for 945MW Banten Lontar Power Plant Construction Project
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | PT Perusahaan Listrik Negara (Persero) (PLN) |
| Country | Indonesia |
| Start Date | May 04, 2009 |
| End Date | Apr 05, 2033 |
| Duration | 8,737 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 110270 |
Grant Description
Bank of China (Sichuan and Jakarta) branch contributions to $454.9 million syndicated loan for 945MW Banten Lontar Power Plant Construction Project On May 4, 2009, Bank of China and Perusahaan Listrik Negara (PLN) — an Indonesian government-owned corporation that has a monopoly on electricity distribution in Indonesia and generates the majority of the country's electrical power — signed a $454,974,082 loan agreement for the 945MW Banten Lontar Power Plant Construction Project.
Bank of China's Jakarta Branch and Sichuan Branch each contributed $191 million to the syndicate, while BNP Paribas and Société Générale each contributed $36.4 million.
It was backed by a Sinosure credit insurance policy.
The proceeds of the loan were to be used by the borrower to partially finance the $820 million cost of an EPC contract between PLN and a consortium consisting of Dongfang Electric Corporation and Dalle Energy (an Indonesian firm), which was signed on August 7, 2007.
The purpose of the project was to install a 945-megawatt (MW) coal-fired power plant — with three 315MW generators (Unit 1, Unit 2, and Unit 3) — in Lontar Village in Banten Province (locational coordinates: -6.0588745, 106.4643002).
The electricity generated by the power plant is transmitted through the PLTU substation, the Teluk Naga substation, and then Tangerang Baru substation. Construction took place between January 6, 2009 and February 13, 2012. Unit 1 was officially inaugurated and put into commercial use on December 28, 2011.
Unit 2 was put into commercial use on February 29, 2012. Unit 3 was put into commercial use on April 10, 2012. The project was officially completed and handed over to the local authorities on December 28, 2012.
Staff Comments
- This project is also known as the PLTU 3 Banten-Teluk Naga 3x315MW Power Plant Project, the 945MW Banten Lontar Power Station Project, the PLTU 3 Teluk Naga/Lontar Project, the PLTU 3 Banten Project, the Banten-Lontar Power Plant Project, and the 3x315 MW PLTU 3 Banten — Lontar Project. The Chinese project title is 印尼龙湾3×315MW燃煤机组电厂 or 印尼龙湾燃煤电站.
- This project was part of the Government of Indonesia’s ‘fast-track program’.
Sources & References
- 周惠公参出席印尼龙湾火电项目一号机组移交仪式
- Banten Lontar power station
- Indonesia’s PLN to Operate 3 New Coal-Fired Plants
- Industry gets boost from 3 new power plants
- Indonesia Inaugurates Three Coal Plants
- Banten Suralaya power station
- PLN secures Chinese loans for power plants program after Merpati spat solved
- Conditionality in Chinese bilateral lending
- Power Loans Tied Up Over Merpati
- PLN secures part of the loans needed for 10,000 MW program
- Govt to deal with China loan problems of Merpati and PLN
- RI resolves rifts with China, mends ties
- PLN to secure $761m in loans from Chinese banks in June
- Funding Spat Puts the Brakes On Fast-Track Power Project
- PLN Hopes to Secure ‘Fast-Track’ Funds From China Despite Financing Freeze
- PLN to Borrow $761m From China for Fast-Track Program
- PLN secures final financing needed for first 10,000 MW power plant crash program
- Indonesia: Chinese financing in PLN's 'fast-track' program
- PLTU 3 Banten Lontar Mulai Beroperasi
- Indonesia PLTU 3 Banten
- 印尼龙湾PLTU 3 BANTEN 3×315MW燃煤电站工程
- 中国两银行与印尼国家电力公司签署愈10亿美元贷款协议
- 中国两家银行与印尼国家电力公司签署10.6亿美元贷款协议, 2011 Bond Prospectus
- 印尼龙湾3×315MW机组工程
- Perkembangan Pengelolaan Kewajiban Penjaminan Pemerintah
- EPC PLN LONTAR
- TELUK NAGA
- BANTEN
- Banten Lontar power station
- ELECTRICITY POLICY DEVELOPMENT & INVESTMENT OPPORTUNITY IN INDONESIA
- Banten-Lontar Coa Power Plant Indonesia
- Some Indonesian power plants built up by Chinese companies at early period
- Indonesia's PLN to operate 3 new coal-fired plants
- Banten Lontar 3 Power Plant
- Banten
- PLTU Lontar Butuh 200 Ton Batu Bara
- Tambahan 2.250 MW untuk Interkoneksi Jawa Bali
- Peresmian PLTU 3 Banten – Lontar Unit 1 oleh Presiden Susilo Bambang Yudhoyono
- 东方电气印尼龙湾大型电站项目实现一年三投, 《金融界》：扎根印尼 砥砺前行
- Active Participant in Boosting Sino-Arab Energy & Power Cooperation: Vision of Dongfang Electric Corporation
- Supplementary Online Material: List of projects to which China has provided public financing (2007-2013)
- Chinese made package to Indonesia (The Guide to Global Trade Finance Markets 2011)
- Nestapa di Balik Proyek PLTU III Banten Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
PT Perusahaan Listrik Negara (Persero) (PLN)
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