PTBA to issue bond to finance power plant project
Wednesday, March 10 2004 - 05:37 PM WIB
State coal miner PT Tambang Batubara Bukit Asam (PTBA) said Wednesday it plans to issue US$150 million worth of Eurobonds to help finance the development of its mine mouth power plant project in South Sumatra, the company's top official was quoted by agency as saying
"We expect to issue the bond in the second half of this year," Bukit Asam's President, Ismet Harmaini, told reporters.
He didn't give details on the bond's tenor or coupon.
Bukit Asam plans to start development work on the Banjar Sari power project later this year and expects the plant to be in operation in 2008.
The power plant could generate an estimated 200 megawatts of capacity, Ismet said.(*)