PLN gets Rp 4.7t loans from provinces-owned banks
Friday, April 24 2009 - 04:11 AM WIB
The loans will be used to finance the construction of 13 coal fired power plants, which are part of the Phase One 10,000 MW fast track program.
The loan is lead-arranged by Jakarta-based Bank DKI with Surabaya-based BPD Jatim and Jayapura-based BPD Papua as co-arrangers.
Present during the ceremony to sign the syndicated loan agreement were Minister of Finance Sri Mulyani and 21 governors of the provinces that own the regional banks.
"This cooperation is the first of its kind in the history of PLN, in which the development of power plants gets significan financial supports from regional banks. This is a positive cooperation in the efforts to provide sufficient power supplies to the region, because PLN's investment capability is still limited," PLN said in a statement.
The 13 power plants (see table) will be built outside Java with a combined capacity of 1,000 MW.
The loan is composed of two packages, that is Package I to finance the rupiah costs of the project and Package II, a rupiah loan to finance the US dollar costs of the project. The loan will cover 85 percent of the EPC costs of the projects, with the remaining 15 of the costs to be covered by PLN using internal funds. The loan has a tenor of 10 years and a grace period of 3 years. The interest is floating based on JIBOR. (bernard)
| No | Project | Location | Package 1 (in Rupiah) | Package 2 (in US$ equivalent to Rupiah) |
| 1 | PLTU Meulaboh | Aceh (NAD) | Rp 614.335.312.844 | ? |
| 2 | PLTU 2 NTT Kupang | East Nusa Tenggara | Rp 134.533.084.975 | Rp 280.987.164.000 |
| 3 | PLTU 1 NTB - Bima | West Nusa Tenggara | Rp 120.495.232.963 | Rp 101.176.296.000 |
| 4 | PLTU Sumbar - T. Sirih | West Sumatra | Rp 521.366.289.102 | ? |
| 5 | PLTU 2 Kalbar | West Kalimantan | Rp 172.033.202.627 | Rp 369.283.152.000 |
| 6 | PLTU 4 Babel | Bangka Belitung | Rp 142.188.609.423 | Rp 286.840.704.000 |
| 7 | PLTU Malut-Tidore | North Maluku | Rp 100.355.967.709 | Rp 118.409.904.000 |
| 8 | PLTU Sulteng-Kendari | North East Sulawesi | ? | Rp 123.305.820.000 |
| 9 | PLTU 1 NTT-Ende | East Nusa Tenggara | ? | Rp 94.723.248.000 |
| 10 | PLTU 2 Sulut-Amurang | North Sulawesi | ? | Rp 327.720.900.000 |
| 11 | PLTU Gorontalo | Gorontalo | ? | Rp 310.128.456.000 |
| 12 | PLTU 2 NTB- Lombok | West Nusa Tenggara | ? | Rp 285.479.544.000 |
| 13 | PLTU 1 Kalteng | Central Kalimantan | ? | Rp 744.684.948.000 |
| Total | ? | ? | Rp 1.805.307.699.000 | Rp 2.926.692.300.000 |
| Note: 1US$ = Rp 11,542) | ||||