PGN obtains $6m loan from WB
Wednesday, October 1 2003 - 05:16 AM WIB
State-owned gas transmission and distribution company PGN has obtained a US$6 million technical assistance facility from the World Bank, company director of development Adil Abas told Petromindo.Com on Wednesday.
He said that the facility would be used for institutional building program, Information Technology development, and gas pricing study. He did not provide details.
PGN is planning to launch an initial public offering in November this year as part of the government privatization program.
The company will also issue bonds to help finance gas pipeline development projects. (alex)