Antara News, Tuesday, December 15, 2009 04:35 WIB
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.
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