Indonesia\'s PLN secured $1.2 bn worth of loan for power projects

Indonesia's PLN secured $1.2 bn worth of loan for power projects

The 10-year borrowing included 3.5 trillion rupiah worth of Islamic financing, the statement saidREUTERS  |  April 23, 2019, 17:17 IST
Indonesia's PLN secured $1.2 bn worth of loan for power projects JAKARTA: * Indonesia's state electricity utility Perusahaan Listrik Negara (PLN) signed a 16.75 trillion rupiah ($1.19 billion) loan deal with local banks, the company said in a statement on Tuesday

* The 10-year borrowing included 3.5 trillion rupiah worth of Islamic financing, the statement said

* The loan will be used to help finance PLN's power projects, part of its 35 gigawatt power development programme

* Banks such as Bank Mandiri, Bank Rakyat Indonesia , Bank Central Asia and CIMB Niaga were among participants in the syndicated loan