ID :
55452
Tue, 04/14/2009 - 17:58
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https://www.oananews.org//node/55452
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PLN STILL NEEDS US$1.4 BILLION FOR 10,000-MW PROJECTS
Jakarta, April 14 (ANTARA) - State-owned power utility company PLN still needs about US$1.3 to US$1.4 billion to finance its 10,000 MW electricity projects, its deputy executive director, Rudiantara, said.
"We are trying to obtain the funds from the money market and banking sector," Rudiantara said at the office of the state minister for State Enterprises (BUMN), here on Tuesday.
He said that PLN had secured foreign exchange funds amounting to 3.6 billion dollars to finance the project. Of the amount, the agreement for 1.9 billion had been signed while that for about 1.6 to 1.7 billion was still under process.
"Thus, the company still has to look for other funds amounting to 1.3 to 1.4 billion dollars," he said.
He said that PLN needed one billion dollars in foreign exchange and another Rp13 trillion in local currency to develop a transmission network.
In the meantime, he said, the state-owned power firm also needed 4.9 billion in foreign exchange and Rp19 trillion in local currency for the development of its power-generator plants.
"The rupiah ratio for the development of the power generators poses no problems because banks at home still have relatively enough liquidity while the funds for those which constitute infrastructure projects are guaranteed by the government," he said.
He said in order to cover the shortage, the company could seek funds from banks and the money market, among others.
Although it has not yet contacted financial institutions, PLN is planning to look for funds to cover the shortage until 2011.
"If it is cheaper we should take it instead of selling bonds," he said. PLN has issued bonds in the form of foreign exchange and rupiah currency worth Rp1.5 trillion.
Previously, PLN president director Fahmi Mochtar said his company would soon obtain a loan from the Chinese Exim Bank amounting to 899 million dollars to finance three of its thermal power plants (PLTU) in Pacitan, Pelabuhan Ratu and Aceh. ***2***
"We are trying to obtain the funds from the money market and banking sector," Rudiantara said at the office of the state minister for State Enterprises (BUMN), here on Tuesday.
He said that PLN had secured foreign exchange funds amounting to 3.6 billion dollars to finance the project. Of the amount, the agreement for 1.9 billion had been signed while that for about 1.6 to 1.7 billion was still under process.
"Thus, the company still has to look for other funds amounting to 1.3 to 1.4 billion dollars," he said.
He said that PLN needed one billion dollars in foreign exchange and another Rp13 trillion in local currency to develop a transmission network.
In the meantime, he said, the state-owned power firm also needed 4.9 billion in foreign exchange and Rp19 trillion in local currency for the development of its power-generator plants.
"The rupiah ratio for the development of the power generators poses no problems because banks at home still have relatively enough liquidity while the funds for those which constitute infrastructure projects are guaranteed by the government," he said.
He said in order to cover the shortage, the company could seek funds from banks and the money market, among others.
Although it has not yet contacted financial institutions, PLN is planning to look for funds to cover the shortage until 2011.
"If it is cheaper we should take it instead of selling bonds," he said. PLN has issued bonds in the form of foreign exchange and rupiah currency worth Rp1.5 trillion.
Previously, PLN president director Fahmi Mochtar said his company would soon obtain a loan from the Chinese Exim Bank amounting to 899 million dollars to finance three of its thermal power plants (PLTU) in Pacitan, Pelabuhan Ratu and Aceh. ***2***
