JAKARTA (RambuEnergy.com) – State electricity company PT Perusahaan Listrik Negara (PLN) has secured Rp12 trillion from five banks and one financial institution to fund its projects.
The five banks are Bank Mandiri, Bank Central Asia (BCA), Bank Rakyat Indonesia (BRI), Maybank Indonesia, Indonesia Eximbank and state owned investment firm PT Sarana Multi Infrastruktur (Persero).
The facility is the second investment loan with tenor of 10 years and will be used by PLN to fund its capital expenditure next year.
Under the loan deal, Bank Mandiri provides Rp3.25 trillion, BCA Rp3.25 trillion, Maybank Indonesia Rp2 trillion, BRI Rp1 trillion, Indonesia Exim Bank Rp 500 bilion and Sarana Multi Infrastruktur Rp2 trillion.
President Director of PLN Sofyan Basir said the syndicated loan will be used by PLN to fund its power plants, transmission, electricity distribution projects and other facilities in Indonesia.
The loan syndication was signed on Monday (Dec. 19).
The government is currently embarking on developing 35,000 MW of installed capacity power plants within 5 years. However, only 19,000 MW are likely to be completed in time. (*)