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Economy in brief: PLN gets $600 million from ADB
State-owned electricity firm PLN has obtained a direct loan amounting to US$600 million from the Asian Development Bank (ADB) for the development of transmission and distribution networks in Sumatra
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tate-owned electricity firm PLN has obtained a direct loan amounting to US$600 million from the Asian Development Bank (ADB) for the development of transmission and distribution networks in Sumatra.
The company said Monday that the direct loan, which was guaranteed by the government, was the first such loan disbursed to Indonesia and a first for the energy sector worldwide.
PLN director for corporate planning Nicke Widyawati said the loan would help the company to partly finance a 35,000 megawatt power plant construction. 'The loan will be used to develop transmission and distribution in Sumatra so that we can improve the electrification ratio,' she said.
The development programs funded by the ADB will cover 19,305 kilometers of high voltage network (JTT), 18,200 kilometers of mid-voltage network (JTM), 19,300 kilometers of low-voltage network (JTR) and 6,987 mega-volt ampere (MVA) transformers.
Following the lending for programs in Sumatra, PLN is seeking more loans from the ADB to support electricity development in other parts of the country.
