Dian Swastatika inks loan facility with Bank Mandiri $310m
Indonesia multi national company PT Dian Swastatika Sentosa Tbk (IDX: DSAA), through its unit PT SKS Listrik Kalimantan (SLK), inks loan facility with PT Bank Mandiri Tbk (IDX: BMRI) worth $310 million on May 18. Hermawan Tarjono, Director and Corporate Secretary Dian Swastatika, said the cash will allocates $200 million for capital expenditure to develop power plant projects in its pipeline. It is now working on two new coal-fired power plant projects worth $620 million. The two projects consist of a 2×150 megawatt power plant project called Sumsel-5 Musi Banyuasin in South Sumatera, and a 2×50 MW of Kendari-3 in Southeast Sulawesi. Construction of the Sumsel-5 plant, estimated to cost about $420 million. Meanwhile, the Kendari-3 is scheduled to begin construction in early 2016, and will cost about $200 million. Dian Swastatika has set a target to start operating the plant in 2018.
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Source: The Insiderstories
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