Jakarta, 14 November 2018 – The government’s commitment to realize its target of 35,000 Mega Watt (MW) power projects has encouraged PT Bank Central Asia Tbk (BCA) to help accelerate the project development. To implement its contribution, The Bank BCA disburses a syndicated loan of Rp1.1 trillion to PT PLN (Persero) to fund the construction of substations and transmissions throughout Central Java as part of the 35,000 MW project.
Attending the signing ceremony was Director of BCA Suwignyo Budiman, President Director of PLN Sofyan Basir, Director of Finance of PLN Sarwono Sudarto, and the management of other participating banks in Jakarta, Wednesday (14/11). The syndicated loan consists of financing provided by BCA and three other banking institutions. Of the maximum ceiling of Rp4,506,787,490,000, BCA channeled a syndicated loan of Rp1.1 trillion.
Suwignyo said that adequate power is the key to achieve business continuity, economic growth, and public welfare. "Developing infrastructure by supplying power has also helped the local industry thrive. Therefore, it is the role of the Government and the private sector to support the provision of power supply in the long term,” said Suwignyo.
The construction of substations and tranmissions in Central Java includes the construction of a 500 kV Extra High Voltage (SUTET) Air Line in the Central Java region, up to West Java, including the construction of 150kV High Voltage Air Channels (SUTT) in Kedung Badak-Bogor Baru, West Java. According to the criteria in Presidential Regulations No. 4/2016 and Minister of Finance Regulation No. 130/2016.
"It is inevitable that electricity power is a fundamental human need where its availability must be guaranteed. BCA initiative to participate in the syndicated loan serves as a form of support for the Government and PLN to help accelerate development in the electric power sector. We also thank PLN for giving us the opportunity to partake in this noble cause," said Suwignyo.
BCA is optimistic that the financing can provide direct value added to the community while concomintantly making a significant contribution to the infrastructure development initiated by the Government. “Moreover, the construction of substations and transmissions will support PLN’s commitment to meet electricity needs at affordable process for households and industries,” Suwignyo concluded.
As of the end of September 2018, BCA’s infrastructure loan facility was recorded at Rp28.8 trillion, increased by 18% YoY, where the provision of electricity amounted to Rp 13.7 trillion
BCA Disburses Loan to PLN – Director of BCA Suwignyo Budiman (center) witnessed by President Director of PT PLN (Persero) Sofyan Basir (left), Director of Finance of PLN Sarwono Sudarto (right) together with the management of other participating banks, signed Government Guaranteed Investment Loan Agreement for the 35,000 MW Substations and Tranmissions Project in the Central Java Region in Jakarta, Wednesday (14/11). Through the partnership, BCA disburses a syndicated loan of Rp1.1 Trillion to finance the 35,000 MW power project of the total ceiling of Rp4,506,787,490,000.
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About PT Bank Central Asia Tbk (as of 30 September 2018)
PT Bank Central Asia Tbk (BCA) is one of the leading commercial banks in Indonesia with a core focus on transaction banking business and providing loan facilities and solutions to the corporate, commercial & SME and consumer segments. At the end of September 2018, BCA had the privilege of serving 18.5 million customer accounts, processing millions of transactions every day through 1,243 branches, 17,440 ATMs and more than 500 thousand of EDC machines as well as transactions made over the 24-hour internet and mobile banking systems.
For more information, please contact:
PT BANK CENTRAL ASIA TBK
Corporate Secretariat Division – Corporate Communication Sub Division
Public Relations Bureau
Address : Jl. MH Thamrin No. 1
Menara BCA Grand Indonesia Lt. 20
Jakarta Pusat
Phone : (021) 2358-8000
Fax : (021) 2358-8300
E-mail : humas@bca.co.id
