Mandiri Provides Rp 25.5 Trillion in Financing for Infrastructure Development in Power Sector
Jakarta, 24 January 2017 - Bank Mandiri is committed to supporting the development of infrastructure in Indonesia, including power sector infrastructure. As of the end of 2016, Bank Mandiri had disbursed loans of Rp 25.5 trillion to the power sector, both on a bilateral and syndicated basis, accounting for 3.6% of the Bank’s total loan portfolio.
Bank Mandiri Corporate Secretary Rohan Hafas said that the provision of financing to the infrastructure sector reflected the company’s desire to help the Government develop a range of basic infrastructure that was vital to the country’s physical development and to encouraging investment.
Rohan said that the above figures excluded additional financing in 2016 for the Government’s 35,000 MW power-sector development program, including syndicated financing of Rp 24 trillion for PLN’s capital expenditure, of which figure Bank Mandiri’s portion amounted to Rp 7.25 trillion.
In addition, Bank Mandiri was also involved in the financing of the Kalteng-1 power plant project (2 x 100 MW) in Tumbang Kajuei, Rungun District, Gunung Mas Regency, Central Kalimantan, and the Embalut power plant project (2 x 100 MW) in Tanjung Batu, Tenggarong Seberang District, Kutai Kertanegara Regency, East Kalimantan.
“We are aware of the great need for investment in the electricity sector, both by the Perusahaan Listrik Negara (PLN) and independent power producers (IPP). Consequently, we are prepared to boost our financing to the power sector so as to accelerate the realization of the Government’s strategic development program,” said Rohan.
The enormous scale of the 35,000 Megawatt program, Rohan said, is reflected in the estimated annual investment that is required, namely, Rp 225 trillion per year over the 2015-2019 period.
“In this regard, we are planning to increase our financing commitment to the power sector by about 18% this year, with the specific composition as between bilateral and syndicated loans being determined based on the type and needs of the projects to be financed,” Rohan explained.
About PT Bank Mandiri (Persero) Tbk
Bank Mandiri is the largest Bank in Indonesia, providing services in the Corporate, Commercial, Micro & Business, Consumer Banking and Treasury segments. The Bank’s subsidiaries are Mandiri Sekuritas (capital market services), Bank Syariah Mandiri (shariah banking), Bank Mandiri Taspen Pos/ Mantap (MSME sector), AXA-Mandiri Financial Services (life insurance), Mandiri InHealth (health insurance), Mandiri Axa General Insurance (general insurance), Mandiri Tunas Finance (consumer finance), Mandiri Utama Finance (financing services), Mandiri International Remittance (remittance services), Mandiri Europe (treasury & financial institutions), and Mandiri Capital Indonesia (venture capital).
As of the end of September 2016, Bank Mandiri operated 2,505 branches throughout Indonesia, and 7 branches/representative offices/subsidiaries overseas. The Bank’s distribution network consisted of 17,461 ATMs linked to the ATM Link, ATM Bersama, ATM Prima and Visa/Plus networks. In addition, the Bank operated more than 269.3 thousand Electronic Data Capture machines and a range of other electronic channels, including Internet Banking, Mandiri Mobile, SMS Banking and Call Center 14.000.
For more information, please contact:
PT Bank Mandiri (Persero) Tbk.
Tel: 021-5245740 Fax 021-5268246