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Jakarta Post

PLN to secure $615m in loans for power plants

  • Ika Krismantari

    The Jakarta Post

Jakarta   /   Thu, April 17 2008   /  11:17 am

After recently securing dollar-denominated loans, state power company PT Perusahaan Listrik Negara (PLN) is set to ink a deal with a consortium of local banks to securing Rp 5.71 trillion (US$615 million) worth of loans, an official says. Head of the government's power sector development program Yogo Pratomo said Wednesday the loans would be used to finance the construction of five power plants under the government-sponsored 10,000 megawatts (MW) program. Some Rp 1.91 trillion of the loans would be allocated for the construction of the 600-MW Rembang plant in Central Java, Rp 1.27 trillion for the 600-MW Indramayu plant in West Java, and Rp 1.19 trillion for the 600-MW Labuan plant in Banten. The remaining Rp 600 billion would be used for the 600-MW Paiton Baru plant in East Java, and Rp 740 billion would go to the new 600-MW Suralaya plant in Banten. Yogo s...