GOVERNMENT INVESTMENT UNIT OF INDONESIA (PIP) AND PT PLN (PERSERO) HAVE SIGNED A USD 800 MIO SOFT LOAN
- 16 December 2011 by admin 0 Comments
On 13 December 2011, Badan Layanan Umum Pusat Investasi Pemerintah (BLU PIP) and the State Electricity Company (PT PLN (Persero)) signed an Investment Agreement in the Form of a Soft Loan (Perjanjian Investasi dalam bentuk Pemberian Pinjaman dengan Persyaratan Lunak), by which BLU PIP has granted PT PLN (Persero) a soft loan.
The funds invested as a soft loan to PT PLN (Persero) total IDR7.5 trillion and will be used for PT PLN (Persero)’s need for funding to procure and replace transformers, and boost installations, transmission, distribution, and other investment. The funds will also be used for funding ongoing contracts for transmission and distribution construction.
The granting of this soft loan serves as a reflection of the mandate pursuant to Article 22A of Law No.2 of 2010 concerning Amendment to Law No.49 of 2009 concerning State Budget for Financial Year 2010.
Hanafiah Ponggawa & Partners (“HP&P”), led by one of its partners, Mr. Giovanni Mofsol Muhammad, is proud to announce its role as legal counsel to Badan Layanan Umum Pusat Investasi Pemerintah (BLU PIP) in completing this transaction.