DSSP Power sign loan agreement with China Development Bank
Wednesday, June 8 2016 - 01:47 AM WIB
IDX-listed energy and mining firm PT Dian Swastatika Sentosa Tbk (DSSA) said that its indirect subsidiary PT DSSP Power Kendari had signed a term facility agreement with China Development Bank Corporation with commitment up to US$150 million for 12-year period to finance the IPP Kendari-3 power plant construction.
The company said in a statement Tuesday that the facility is secured by, among others, DSSP machinery and equipment fiduciary, and DSSP receivables fiduciary.
DSSA said last year that DSSP was scheduled to start construction of the 2x50 MW Kendari-3 power plant in South Konawe, Southeast Sulawesi, in 2016, in the hope that operation could start in 2108. DSSP signed a power purchase agreement with state-owned electricity firm PT PLN in May of 2015.
Editing by Reiner Simanjuntak