Eximbank loan to finance Indonesian hydroelectric plant

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Eximbank loan to finance Indonesian hydroelectric plant

The state-run Export-Import Bank of Korea (Eximbank) said yesterday it has signed a deal to provide a $131 million loan to an Indonesian hydroelectric power plant project as part of its drive to step up green growth financing. Eximbank will be the sole project financing loan provider for the $174 million project to build a 45-megawatt hydroelectric power plant in Wampu, Indonesia, the policy lender said.

Two Korean firms, Posco Engineering and Korea Midland Power, will take part in the construction, set to be completed in July 2014. The two companies are slated to run the plant along with Indonesia’s PT Mega Power Mandiri for 30 years.


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