PGN to raise $225M for gas network
Wednesday, December 7 2005 - 03:13 PM WIB
State gas distribution firm PGN said Wednesday it is seeking to raise US$225 million next year to improve its gas network on Java Island, the Indonesian gas distributor's President Director WMP Simanjuntak told reporters.
"We are now studying the best way to raise the funds. It could be either through the stock market by issuing new shares, bank loans or issuing bonds," he added.
He said Gas Negara will expand and improve the gas network in East Java, Central Java and West Java provinces.
He didn't provide any other explanation.
Analysts said the company needs to build the networks to maintain gas supply to the region and to increase revenue.(*)