PTBA plans to obtain loans worth up to US$150 million
Tuesday, August 9 2005 - 02:33 AM WIB
President director of the Tanjung Enim, South Sumatra-based coal mining company, Ismet Harmaini said that PTBA needed at least about Rp 2.3 trillion (about US$240 million) to finance the expansion projects.
About Rp 850 billion of the total funds would be financed by the company's own funds, and the remaining Rp 1.4 trillion or about US$150 billion to be financed by loans, Ismet said.
He said the company had not yet to decide whether loans would be raised from banks or to raised from the issuance of bonds.
PTBA, one of the country's largest coal producer, is involved in the construction of three coal-fired power plants in South Sumatra. The three power plants including the Banjarsari Power plant, with a capacity of 2 x 100 MW, the Banko power plant with a capacity of 4 x 600 MW and the Pranap power plant with a capacity of 2 x 250 MW, are expected to begin commercial operation in 2009.(*)