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http://www.antaranews.com/en/news/1260826531/pln-secures-371-million-loans-from-chinese-bank PLN secures $371 million loans from Chinese bank Tuesday, December 15, 2009 04:35 WIB | Economic & Business | | Jakarta (ANTARA News) - The Bank of China has agreed to extend US$371.5 million in loans to state electricity company PT Perusahaan Listrik Negara (PLN) to finance the construction of the Tanjung Awar-Awar steam power plant in East Java. The loans were fully supported by Sinosure, a government export credit insurance agency in China, PLN President Director Fahmi Moechtar said on Monday. The loans, payable in 13 years including a grace period of 3 years, carried a floating interest rate based on the London Interbank Offered Rate (LIBOR), he said. PLN and Bank of China signed a loan agreement in the presence of Finance Minister Sri Mulyani on Monday. Also on Monday, PLN signed an agreement with state-owned Bank Mandiri, Bank BNI and Bank BRI and privately-run Bank BCA for a syndicated loan of Rp5.88 trillion to finance the construction of four steam power plants and transmission projects.(*) Read Also a.. Indonesian power firm PLN to issue US$159 mln of bonds next year b.. PLN to issue bonds worth Rp1.5 trillion next year c.. PLN needs to recruit 26,000 new employees d.. Govt discussing plan to raise basic power rates e.. Nominees for PLN chief to be submitted to president [Non-text portions of this message have been removed]
