PLN still needs Rp 9t for power grid projects
Tuesday, February 23 2010 - 02:25 AM WIB
State electricity company PT Perusahaan Listrik Negara (PLN) still needs another Rp 9 trillion (1US$ = Rp 9,300) to finance the construction of power grids currently being built as part of the first stage of 10,000 megawatt power crash program.
?Of the US$2 billion for the power grid construction, about $1.1 billion has been secured. It means, for the power grid projects, we still need to raise Rp 9 trillion more,? the company?s finance director Setio Anggoro Dewo said in Jakarta on Monday.
Dewo hoped the remaining Rp 9 trillion could be obtained from local banks this year. ?Because what we need is rupiah loan, we hope we can obtain the funds from the local banks,? he added.
Although the construction of the power grids is still in a shortage of funds, the company has secured all the fund requirement totaling $5 billion for the construction of power plants being built under the program, he said. (godang)