PLN signs loan agreements with Chinese and Indonesian banks
Wednesday, October 14 2009 - 03:48 AM WIB
PLN will sign a loan agreement with China Development Bank (CDB) and Industrial and Commercial Bank of China (ICBC) to finance the development of the PLTU Adipala Supercritical power plant in Central Java (660 MW) and the PLTU Teluk Sirih in West Sumatra (2x112 MW).
The two Chinese firms will provide 13-year loans worth US$468 million in dollars and Rp 1.89 trillion in rupiah, PLN?s President Director Fahmi Mochtar said on Wednesday.
They will also provide a loan worth $138 million with a tenor of 13 years to finance the development of the Teluk Sirih power plant.
?The rupiah portion of the Teluk Sirih project?s financing will be provided by the association of regional banks, with whom PLN has signed a loan agreement worth Rp 521 billion,? he said.
PLN will also sign an agreement with a syndicate of state owned banks Bank Rakyat Indonesia, Bank Mandiri (lead arranger) and BNI to provide loan for the development of three coal-fired power plants that is PLTU Tarahan in Lampung (2x100 MW) and PLTU Pangkalan Susu in North Sumatra (2x200 MW).
The banks will provide $119 million for PLTU Tarahan and $209 million for PLTU Pangkalan Susu with a tenor of 10 years, according to Fahmi.
The rupiah portion of the financing for both projects will be provided by Bank Mega, with whom PLN had signed two loan agreements worth Rp 460 billion (for Tarahan) and Rp 781 billion (for Pangkalan Susu).
Fahmi said the three power plants which are parts of the Phase One 10,000 MW crash program will strengthen the power interconnection system across Sumatra, from Aceh to Lampung, whose load has reached 2,500 MW. (kanti)