PLN gets $592m loan from Bank of China
Tuesday, May 27 2008 - 11:22 PM WIB
State electricity firm PLN has signed a US$592 million loan agreement with a consortium led by Bank of China to finance the construction of 3x330-MW coal-fired power plant in Indramayu, West Java.
The loan deal, which has tenure of 13 years with 3-year grace period, was signed in Beijing.
PLN Vice President Director Rudiantara told reporters that the loan was to meet forex requirement of the project. Another Rp.1.2 trillion ($130 million) rupiah loan has been signed with local banks.
The power plant is expected to come onstream in 2009. (godang)