TheJakartaPost
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The Jakarta Post
State-owned electricity firm PLN's signage is seen above the company's building in Jakarta. (Antara/Zabur Karuru)
State-owned electricity firm PLN has secured a Rp 12 trillion (US$916 million) syndicated loan to finance electricity projects.
The company obtained the loan from state-owned lenders Bank Mandiri, Bank Negara Indonesia (BNI) and Bank Rakyat Indonesia (BRI) in an agreement signed in Jakarta.
“The syndicated loan aims to support the government’s 35,000 megawatt electricity program,” PLN spokesperson Agung Murdifi said in an official statement on Friday.
The agreement says each lender will disburse Rp 4 trillion with a tenure of 10 years, he explained.
The loan, Agung further said, will be used to finance power plant development, transmission network, distribution system and other supporting facilities. (rez/ags)
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