State-owned energy firms expect to raise Rp 9t loans

Major state owned energy companies, PT Perusahaan Listrik Negara (PLN), PT Pertamina and PT Perusahaan Gas Negara (PGN), have targeted to clinch Subsidiary Loan Agreement (SLA) worth a total of Rp 9.66 trillion this year to finance their projects.

Energy Minister Darwin Zahedy Saleh told a hearing with the House of Representatives said the lons would be used to finance 23 projects, which are now in progress, and another seven projects, which are on the pipelines.

Deputy Finance Minister Anny Ratnawati said power company PLN hoped to get a total Rp 9.6 trillion in subsidiary loans, including Rp trillion to finance 21 ongoing projects, and Rp 4.5 trillion for seven projects on the pipeline.

Meanwhile, gas company PGN needed Rp 71 billion to finance two projects and oil and gas company Pertamina needed Rp 30 billion to finance a project on the pipeline.

No details were given by the ministry about the project but Pertaminas president Karen Agustiawan told reporters on the sidelines of the hearing that the Rp 30 billion funds were needed for its Lumutbalai geothermal field. Meanwhile, PGN's president director Hendi Priyosantoso said the Rp 71 billion funds would be used for the completion of some physical works for its SSWJ (South Sumatra West Java) gas pipeline.

PLN's president director Dahlan Iskan said the Rp 9.6 trilion loans would be used for its power plant projects througout the country. (godang)