Paiton looks for underwriters<\/p>\n
JAKARTA (JP): PT Paiton Energy Company, a Japanese-American-
\nIndonesian consortium awarded a contract to set up two power
\nunits in Paiton, East Java, has appointed Chase Manhattan Bank
\nN.A. of the United States and Industrial Bank of Japan to
\ncoordinate loans for its project.<\/p>\n
Paiton Energy will establish two coal-fired units, with a
\ncombined capacity of 1,230 megawatts, under build-own-and-operate
\nbased contract with the government.<\/p>\n
The State Electricity Company has operated two units at the
\nPaiton power station with a combined capacity of 800 MW.<\/p>\n
A spokesman for Paiton Energy said here yesterday that the
\nconsortium, sponsored by Mission Energy Company and General
\nElectric Capital Corporation, both of the United States, Mitsui
\nCo. Ltd. of Japan and PT Batu Hitam Perkasa of Indonesia, needs
\nunderwriters to finance the US$2.3 billion electricity generating
\nunits.<\/p>\n
The loans, to be generated by the banks, will be used to
\nfinance the construction, start-up and operation of the two
\nunits.<\/p>\n
The spokesman said Paiton Energy has also appointed six other
\nfinancial institutions -- BA Asia Limited, Barclay Bank PLC,
\nCredit Lyonnais, Fuji Bank Limited, Sakura Bank Limited and Union
\nBank of Switzerland -- to lead arrangements to find underwriters.
\n(02)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/paiton-looks-for-underwriters-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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