Multination consortium of Cirebon Power has signed US$1.74 billion loan agreement, equivalent Rp23 trillion, with Japan Bank for International Cooperation (JBIC), Korea Eximbank (KEXIM), and Nippon Export and Investment Insurance (NEXI), used to fund expansion of coal-fired power plant (PLTU), unit 2, in Cirebon with capacity of 1×1,000MW. The financial close is targeted for May 8, 2017. The construction under Ultra Super Critical (USC) application will take 51 months.
