Austindo provides loan for power plant subsidiary

By Romel S. Gurky

Courtesy of Austindo

IDX-listed palm oil company PT Austindo Nusantara Jaya Tbk said it has agreed to provide loan worth Rp 5 billion for its more than 99 percent owned power plant subsidiary PT Austindo Aufwind New Energy (AANE).

Austindo said in a statement Wednesday that the lending agreement was signed on January 23. The one-year loan facility, which will mature on January 22, 2018, and can be automatically extended for another year, will be used to support the operation and working capital of AANE.

AANE operates a 1.8 MW biogas power plant, using pam oil mill effluent as feedstock, in East Belitung Regency, Bangka Belitung Province.

Editing by Reiner Simanjuntak