PLN to get Rp1.5T loan from BRI
Wednesday, November 18 2009 - 03:35 AM WIB
State electricity firm PLN is in talks to secure Rp.1.5 trillion loan from IDX-listed state-owned bank PT Bank Rakyat Indonesia (BRI) to finance development of four coal-fired power plants in Riau and Kalimantan.
CEO Fahmi Mochtar said on Wednesday that the loan would consist of Rp.635 billion of Rupiah financing and US$87 million in US dollars.
The loan, which will mature in 10 years, will be used to finance construction of 2x10MW power plant in Bengkalis, 2x7 MW in Selat Panjang, 2x7 MW in Tanjung Balai Karimun and 2x50MW in West Kalimantan.
The projects are part of government?s 10,000 MW crash program, he said.
He added that the loan is currently awaiting approval from Minister of Finance and is expected to be signed in December. (bernard)