PLN secures Rp32 trillion loan from BRI, Mandiri and BTN

JAKARTA (RAMBUENERGY.com) – PT Perusahaan Listrik Negara (PLN), Indonesian utility company, has secured ten years’s loan facility from PT Bank Rakyat Indonesia Tbk, PT Bank Mandiri Tbk and PT Bank Tabungan Negara Tbk worth Rp32 trillion (approximately US$2.4 billion) to support the 35,000 megawatt’s electricity program.

Minister for State Owned Enterprises (SOEs) Rini Soemarno said the three state-owned banks have agreed to provide investment and working capital loans for the period of 2016 to 2017. President Director of PLN Sofyan Basyir said the funds will be used to lift up the equity of the company, build transmission and develop mini power plants in border areas.

PLN targets to raise Rp 170 trillion to develop transmissions across Indonesia in five years time. In addition to bank loans, PLN also plans to raise funds by issuing bonds and seeking multilateral loans.

Finance Director of PLN Sarwono Sudarto said PLN plans to issue global bonds up to $2 billion at the end of 2016 or early 2017. (*)

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