DSSP gets loan from China Development Bank
Wednesday, December 5 2012 - 12:13 AM WIB
PT DSSP Power Sumsel recently stated it has signed Facility Agreement with China Development Bank Corporation on December 4, 2012 to receive US$318,000,000 worth of loan at the tenure of 120 months.
The loan facility for the subsidiary of PT Dian Swastika Sentosa is completed with a number of warranties that covers Engine Fiducia and DSSP Equipment, Fiducia DSSP Insurance Claim, Company Warranty by Main Company and PT Manggala Alam Lestari (indirect subsidiary of DSS with up to 99% shares ownership), Fiduciary for all DSSP shares owned by PT DSSP Energi Sejahtera (DSS subsidiary with up to 99% shares ownership) and right transfer on DSSP contracts with its suppliers and customers.
DSSP, expecting to develop 2x150MW Sumsel 5 mine-mouth power plant in South Sumatra, has previously received a loan package from its parent company DSS amounting to US$100 million with a 10 year tenure with 6 percent annual interest.
The project is expected to require a total investment of up to US$400 million, expected to be completed within 3 years with commercial operation targeted in 2015.
Editing by Er Audy Zandri