PLN bonds worth Rp 900 billion to be issued early next year
Monday, November 11 2002 - 07:27 AM WIB
State electricity company PLN said on Monday its bonds worth Rp900 billion (US$=Rp 9,000) will be issued in the first semester of 2003 through domestic bourses.
PLN president director Eddie Widiono, speaking in a parliamentary hearing, did not say however in which month his company will issue the bonds.
Eddie only said that funds raised from the bond issuance will be used to finance the 600-megawatt gas power project in Muara Tawar, West Java.
The Muara Tawar power plant is expected to supply electricity to the Java-Bali power transmission system.
Another senior official of PLN said earlier that the power project was expected to start operation in October 2003.
Eddie said in Monday?s parliamentary hearing that Java and Bali will surely face serious power crisis in 2004 if power supply is not increased significantly. (godang)