PLN to sign Rp 5t loan agreement today
Monday, December 14 2009 - 02:26 AM WIB
"Today, we shall sign credit facilities to finance the development of five coal fired power plants included in the Phasae One 10,000 MW program," PLN's President Director Fahmi Mochtar said.
Under the agreements, the banks will provide US$457.6 million in dollar loan and Rp 635 billion (US$=Rp 9450)in rupiah loan.
The five power plant projects are PLTU Tanjung Awar-Awar (2x315) which will get loan worth $371 million from Bank of China (BoC) with a tenor of 13 years, a grace period of 3 years and a LIBOR-based rate.
The four other power projects will recieve loans from BRI with a tenor of 10 years, a grace period of three years and JIBOR-based rate. The power projects are PLTU Kalimantan Barat (2x50 MW) which will receive $62 juta dan Rp 392 miliar; PLTU Bengkalis, Riau (2x10MW) which will receive $8.4 juta dan Rp 132 miliar; PLTU Selat Panjang, Riau 2x7 MW which will receive $9.2 juta dan Rp 111 miliar; and PLTU balai Karimun Riau (2x7 MW) which will receive $7 million.
According to Fahmi, with the loan agreements, PLN has secured financing for 10 power projects on Java and Bali islands, and 23 power projects outside Java and Bali to be built under the Phase One 10,000 MW program. The program needs a total of $4.931 billion and Rp 19.613 trillion funds for all power projects of the Phase One 10,000 MW program.
"There are still two othe power projects of the Phase One 10,000 MW, respectively located in Maluku and Papua, which have yet to complete the retendering process.
He said two power plants being built under the Phase One 10,000 MW program, that is PLTU Labuan (2x300 MW) and Rembang (1x300 MW) will soon start operation. The rest will come on stream next year and beyond. (godang)