December 7, 2018 / 7:00 AM / 9 months ago

Indonesia's Pertamina reaches financial close on $1.8 bln gas power station project

JAKARTA, Dec 7 (Reuters) - Indonesian state-owned energy firm Pertamina on Friday said it reached financial close for a $1.8 billion integrated gas-fired power station project on Dec. 5 with Japanese partners Marubeni Corp and Sojitz Corp .

The consortium of lenders for the project includes the Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance Co Ltd (NEXI), the Asian Development Bank (ADB), Mizuho Bank Ltd, MUFG Bank Ltd and Overseas Chinese Banking Corporation Ltd.

Construction of the project, which includes an accompanying floating storage and regasification unit (FSRU) to feed natural gas into the 1,760 megawatt Jawa-1 combined cycle power station on the island of Java, will commence in the third week of December, Pertamina said in an emailed statement. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Joseph Radford)

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