EXIM BANK FUNDS ANOTHER MINI HYDRO PROJECT IN INDONESIA

12 Jul 2013 11:19
KUALA LUMPUR, July 9 (Bernama) -- Export-Import Bank of Malaysia Berhad (EXIM Bank) today signed a USD11.9 million Facility Agreement with PT Great Colour Energy for the development and construction of the mini hydropower plant in Indonesia. Through this Facility Agreement, EXIM Bank will part finance the development of Mini Hydro project with an initial capacity of 5-mega watts in South Sulawesi, Indonesia. The Facility Agreement was signed by Dato’ Adissadikin Ali, Managing Director/Chief Executive Officer of EXIM Bank Malaysia and Encik Khairul Nizam Tajul Hasnan, President Director of PT Great Colour Energy. An investment of over USD15 million, the development of mini hydro project at Sungai Bungin, Kabupaten Enrekang will benefit and contribute to the economic development and domestic capacities by providing sufficient and affordable energy in South Sulawesi. Speaking on the occasion, Dato’ Adissadikin Ali, Managing Director/Chief Executive Officer of EXIM Bank said, “This project is part of our responsible financing scheme to help reduce the carbon footprint of the world and EXIM Bank is very proud to be a part of this project.” “We generate power to light up the life of humankind with the spirit to create environmental sustainability and having a social impact to the surrounding community,” added Encik Khairul Nizam Tajul Hasnan. The USD11.9 million which is the 12-years Term Loan under EXIM’s Overseas Project Financing-i covers up to 75% of the project cost with total development costs of USD15 million. Upon the completion of this project, PT Great Colour Energy which is also a unit of Malaysian owned Great Colour Group will embark on the second phase of the project with an additional of 5-mega watts. The Bank marks another milestone in its power and energy portfolio following similar signing earlier in May on Hydropower Plant also in Indonesia. ABOUT EXIM BANK The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in an equally diverse range of sectors in their global ventures. EXIM Bank is taking pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. ABOUT PT GREAT COLOUR ENERGY PT Great Colour Energy (PT GCE) is a Penanaman Modal Asing (PMA) incorporated in the Republic of Indonesia on 29 September 2011. The company is implementing the development of mini hydro project in Sungai Bungin, Enrekang located in South Sulawesi which governed under the development of mini hydro schemes known as PLTM Bungin III with an initial capacity of 2 x 2.5MW and provisions for additional 5MW (estimated total capacity of 10MW). The project would be developed under the Independent Power Producer (IPP) basis. SOURCE : Export-Import Bank of Malaysia Berhad (EXIM Bank) FOR MORE INFORMATION, PLEASE CONTACT: NAME : Azmin Hamzah Assistant Vice President Communications & Stakeholder Management Department TEL : +603 2601 2371 FAX : +603 2601 2469 E-MAIL : azmin@exim.com.my WEBSITE : www.exim.com.my NAME : Ahmad Ehsan Mokhtar Manager, Communications & Stakeholder Management Department TEL : +603 2601 2388 FAX : +603 2601 2469 E-MAIL : ehsan@exim.com.my WEBSITE : www.exim.com.my --BERNAMA