PLN will issue Rp1.5 trillion bonds
Thursday, April 22 2004 - 02:11 AM WIB
State-owned electricity company PT Perusahaan Listrik Negara (PLN) is planning to issue bonds worth more than Rp 1 trillion in the beginning of second semester of 2004 in order to finance various power plants in the country, economic daily Neraca reported in its Thursday edition.
?We will again offer bonds, whose value will be above Rp 1 trillion and below Rp 1.5 trillion,? the paper quoted PLN president director Eddie Widiono as saying on Wednesday in Jakarta.
The issuance of the bonds is required, given the fact PLN could only cover one third of its investment costs, Eddie said.
PLN needs investment funds totalling US$2.3 billion per year. (*)