DSS supports subsidiary for power plant project
Friday, November 2 2012 - 02:54 AM WIB
PT DSSP Power Sumsel has formally received a loan package from its parent company, Indonesia-listed firm PT Dian Swastatika Sentosa (DSS), to support the development of 2x150 MW Sumsel-5 mine-mouth power plant in South Sumatra.
DSSP Power Sumsel was established as a special purpose company which will run the IPP Sumsel-5 project, following the naming of DSS as the preferred bidder by PLN for the project.
In a company statement, the loan amounted to US$100 million with a 10-year tenure. The loan carries a 6 percent annual interest.
The loan is expected to support the project, which would require a total investment of $400 million.
The power plant is expected to be completed within 3 years and commercial operation date (COD) is expected in 2015.
Editing by Dadan Wijaksana