Three banks provide Rp 5.92t loans for Salim Group’s power projects
Friday, February 22 2019 - 07:57 AM WIB
Three of the country’s largest banks, Bank Central Asia (BCA), Bank Mandiri and BNI have agreed to provide syndicated loans worth Rp 3.93 trillion and US$140.6 million to power producer PT Tamaris Hidro, a unit of the well-diversified Salim Group, to finance power plant projects, Bisnis Indonesia reported on Thursday.
The paper said that the lending agreement was signed on 18 January.
The paper quoted Jahja Setiaatmadja, President Director of BCA, which is controlled by Salim, as saying that the bank has agreed to provide a total of Rp 2.7 trillion loans to Tamaris.
He said that the total Rp 5.92 trillion of syndicated loans will be used to finance the development of hydro power plant and mini hydro power plant projects.
VP Corporate Solution Group at Bank Mandiri, Budi Purwanto also confirmed the loans for Tamaris. He said that the bank has agreed to provide loans up to Rp 2 trillion for Tamaris.
BNI did not respond when asked for comments.
The Salim Group first entered the hydro power plant business in the country in 2011 through Tamaris, and later further expanded its presence in the sector by acquiring IDX-listed PT Nusantara Infrastructure Tbk through a vehicle called PT Metro Pacific Tollways Indonesia, which is controlled by Philippines-based Metro Pacific Tollways Corporation, which is owned by the Salim Group.
Nusantara has a number of hydro power plant projects in Indonesia. (*)