CIMB Niaga, Tirta Gemah sign loan agreement

JAKARTA: CIMB Niaga, one of Indonesia’s major banks, signed on Thursday an agreement with electricity company PT Tirta Gemah Ripah (TGR) for loans amounting to Rp 100 billion (US$10.34 million).

The full amount consists of Rp 95 billion of investment credit and Rp 5 billion for special purposes.

TGR will use the credit facility to finance its investment in mini hydropower plants, each of which will have 4 megawatt capacity. The hydropower plants will be located in Cihikeu and Bugbulang village in Garut, West Java.

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Posted March 5, 2013 by repit in News

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