PLN inks loans with Chinese banks
Aditya Suharmoko, The Jakarta Post, Nusa Dua, Bali | Mon, 05/04/2009 4:25 PM
State-run power firm PT PLN signed Monday loans of US$1.06 billion with the Export Import Bank of China (CEXIM) and Bank of China (BoC) to finance the government's 10,000 megawatt fast-track program.
The signing was inked by PLN president director Fahmi Mochtar, CEXIM vice president Li Jun and BoC general manager of the corporate banking department Tang Mao Heng, and witnessed by finance minister Sri Mulyani Indrawati.
The loans will be used to finance power plants in Paiton, Suralaya, Indramayu, Labuan and Rembang, PLN said in a statement.
