PLN raising funds for Java transmission project
Monday, March 4 2002 - 04:35 AM WIB
State-owned electricity company PT PLN is planning to issue bonds in the domestic market to raise between 500 billion and 900 billion rupiah (US$=Rp10,056), Dow Jones Newswires quoted Finance Director Parno Isworo in an interview recently.
PT PLN plans to issue the bonds by June and the funds raised will be used to "inaugurate power projects, specifically in the completion of the southern transmission project in Java," where power shortfall fears loom large, Parno said.
Some of the funds from the bond issue will be used to pay for the cost of land acquisition and clearing for the southern transmission project, project management, and import taxes, he added. (*)