PT. Bank Central Asia Tbk (BCA) signed a syndicated loan for the development of power projects initiated by PT. Perusahaan Listrik Negara (PLN). The total syndicated loan required in this project is worth up to Rp 12 trillion.
Signing the loan agreement was the Director of BCA Rudy Susanto, Director of Finance of PT PLN (Persero) Sarwono Sudarto, and the management board of the participating financial institutions. The special moment was witnessed by the Head Director of PLN Sofyan Basir at PLN Headquarter Building, Jakarta, Thursday afternoon (2/11/2017).
In the syndicated loan agreement, BCA disburses a loan facility of Rp 2.5 trillion to supplement the existing loan from other creditors. The syndicated loan was planned to finance RKAP 2017, which includes the PLN capital expenditures for power plants, transmission, distribution, and a number of support facilities for the Indonesian public.
The 10-year loan is required to accelerate the completion of the government’s development program, namely the 35.000 MW power project.
“BCA sees a tremendous benefit from the funding facility given to the PLN, which is to support PLN in providing electricity to industries and the public,” explained Rudy in a press statement.
According to Rudy, the loan may enable the economic growth, including for the national banking. Rudy hopes that the cooperation between banks in support of government development programs should continue in the future. This is because the said cooperation is in line with BCA’s commitment to innovate in catering to the various funding needs amidst the increasingly diverse and specific economic activities of the public.
Meanwhile, Head Director of PLN Sofyan Basir said that the 35,000 MW power project is challenging and serious. The program includes the development of 35,826 MW power plant, 46,811 km transmission, and 109,199 MVA substations. The construction has reached 15,126 MW of the total power.
"Development progress has reached a significant point to provide excellent service to the public. It is not easy to develop this project in Indonesia. It requires a lot of efforts,” said Sofyan.
Sofyan appreciated the support of the donor banks that helps the development for the greater public benefits. For Sofyan, support from the banking sector becomes one of the keys to development success.
"The PLN carries strategically challenging duties, and with the support of the national banks, we can provide an adequate and competitive power infrastructure that propels economic growth of the public and industry," Sofyan further explained.
With the support of the syndicated loan, in the future, the PLN can generate adequate quality power for the public and the industry at an affordable price. Not only the big cities that can gain access to electricity, but also the remote areas throughout Indonesia.