PLN gets Rp 8,5t loan from Indonesian banks
Monday, December 24 2012 - 02:06 AM WIB
State utility PT Perusahaan Listrik Negara (PLN) has secured a syndicated loan of Rp 8.5 trillion from four Indonesian banks, namely Bank BRI, Bank Mandiri, Bank BCA, and Bank BNI.
The loan agreement was signed by PLN President Director Nur Pamudji, Bank BRI President Director Asmawi Syam, Bank BCA Director Suwignyo Budiman, Bank Mandiri Banking Institutional Director Abdul Rachman, and Bank BNI Banking Business Director Krishna Suparto in a signing ceremony at the state enterprise ministry?s headquarters in Jakarta last Friday.
Nur Pamudji said that the Rp 8.5 trillion loan would be used as part of PLN?s capital expenditure next year (2013) to build power plants, power transmission, and distribution system.
PLN?s capital expenditure increases every year. In 2010, it reached Rp 45 trillion, and last year it amounted to Rp 47 trillion.
?This year it will certainly increase, but we don?t know the exact figure yet. We?ll know it on 31st December 2012. The source of funds for our capital expenditure is internal cash and loans,? he said.
According to him, the loan will be adapted into PLN?s budget and work plan (RKAP) of 2012 and 2013. ?To fill the financial gap in our RKAP, we get the syndicated loan from the four banks,? he said.
Of the Rp 8.5 trillion total loan BRI will provide Rp 3 trillion, Bank Mandiri Rp 2 trillion, BCA Rp 2 trillion, and BNI Rp 1.5 trillion. The loan will be repaid within a period of 10 years, with a grace period of three years.
Editing by Benget Besalicto Tnb.