Jakarta (ANTARA News) - State Enterprises Minister Mustafa Abubakar said state electricity company PT Perusahaan Listrik Negara (PLN) has a great chance of issuing global bonds as one of its funding sources.

"In addition to bank loans, issuing global bonds is an alternative funding source for the company," he said here on Friday.

Of course, the company`s plan to issue global bonds could be adjusted to its fund needs, he said.

PLN needed huge investment to switch from oil-fueled to gas-fueled power plants as part of its efficiency programs, he said.

In addition, PLN was also among 26 state-owned companies involved in the development of six economic corridors under the newly-launched master plan for the acceleration and expansion of Indonesia`s economic development (MP3EI), he said.

PLN was in the process of evaluating its investment-financing scheme which would cost the company US$1.5 billion to US$2 billion, he said.

Earlier, PLN President Director Dahlan Iskan said the amount of fund expected to originate from external investment would range from US$1.5 billion to US$2 billion.

He added however that the amount still could change as the evaluation of the company`s investment-financing scheme was still underway.

PLN is expected to spend around Rp70 trillion on capital expenditure this year to build transmission lines and power plants.

"As a shareholder, we fully leave the (planned) bond issuance to PLN to decide because this is part of corporate action," Mustafa said.


Editor: Suryanto
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