PLN seeks $30b to boost capacity

PLN seeks $30b to boost capacity

JAKARTA: Indonesia's state electricity company is seeking to
raise US$30 billion in the next 10 years to raise its generating
capacity by another 20,000 megawatts, its president said on
Tuesday.

Eddie Widiono said Perusahaan Listrik Negara (PLN) was
struggling to meet a sharp growth in power demand as the sector
was suffering from a lack of foreign investment to make up for
cash shortfalls.

"PLN can only fork out $9 to $10 billion and we will have to
seek the remainder from investors," Widiono told reporters.

Creditor countries and the World Bank have funded some of the
power firm's projects, but the government has said it wants more
private participation.

Indonesia plans to revoke PLN's monopoly of the power sector
and allow private companies to sell electricity by 2008. -- AFP