Export Loans for Java-Bali Submarine Power Cables Replacement Project
Supporting Japanese Export for Indonesia’s Power Infrastructure Project
- Area: Asia
- Machinery and Equipment
JBIC signed a loan agreement of buyer’s credit*1 with the Government of Indonesia (GOI). The loan will be onlent from GOI to a state-owned power company, PT. PLN (Persero) (“PLN”),to finance the project in which PLN will purchase a submarine power cables system between the islands of Java and Bali from a consortium that includes Sumitomo Corporation and J-Power Systems Corporation. This project will enable a stable supply of power to Bali Island, which is suffering a serious power shortage, by utilizing Japanese facilities and technologies.
- *1A buyer’s credit is a loan JBIC directly extends to a foreign importer (buyer) to finance its import of machinery and equipment from a Japanese company.