Sunday, January 11, 2009

PLN need approval Goverment for loan US$2 billion

State electricity company PLN is going to receive US$2 billion worth of debts or IDR22.10 trillion from three Chinese banks to finance the first batch 10,000 Megawatt (Mw) electricity crash program.
The first-batch electricity crash program requires a total financing of US$4.5 billion-US$4.8 billion. The three Chinese banks were Bank of China, China Development Bank, and The Exim Bank of China.
Vice President Director PLN Rudiantara said the company need approval from government to execute the loan.

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