JAKARTA (TheInsiderStories) - The energy producer, PT Dian Swastatika Sentosa Tbk (IDX: DSSA), has signed a financing facilities with total amount Rp1.38 trillion (US$97.87 million) with state firms, PT Bank Negara Indonesia Tbk (IDX: BBNI), PT Indonesia Infrastructure Finance (IIF), and PT Sarana Multi Infrastruktur (SMI). The signing of the agreement was made jointly with its unit, PT Eka Mas Republik and PT Innovate Mas Indonesia.
On Dec. 18, the issuer together with the subsidiaries, has signed a financing agreement with IIF with valued Rp773 billion. While, SMI agreed to disburse financing up to $28 millio on Dec. 10. This facility will be used for the development of the group businesses.
For information, Dian Swastatika through its subsidiaries has various business units, ranging from power plants, coal mines, gold, to multimedia businesses. The unit, PT DSSP Power Sumsel Dua has two coal-gasification power plants Kalteng-1 and Kalteng-3 with a capacity of 2×100 megawatts (MW), and the completion in this year.
Beside, the producer also owned Sumsel-5 with a capacity of 2×150 MW which was operational in December 2016 and Kendari-3 with a capacity of 2×50 MW has been operating in October 2019. The management assesses the prospect of coal-based power plants still quite positive in the years to come.
Dian Swastatika also seeks to develop new and renewable energy for the electricity. Through its subsidiary, Golden Energy and Resources (GEAR), through Golden Investment (Australia) Pte. Ltd., had acquired metallurgical coal and gold mines in Australia. In the coal business, the Singapore-based company has increased its share ownership in Stanmore Coal Ltd to 75.33 percent, which owned coal mines and projects in Queensland, Australia.
The company’ estimated metallurgical coal production volume reaches 2.1 million tones in this year. In the gold mine, Golden Investment has formed a joint venture with Raven Gold Nominee Pty. Ltd., to acquire the Ravenswood gold mine owned by Carpentaria Gold Pty. Ltd., and Resolute Mining Ltd.
Ravenswood, which is located in Queensland, is expected to produce around 45,000 ounces of godl and in 2021 rises to 120,000 ounces of gold. In addition, the company also controls 15 percent shares of telco operator, PT Smartfren Telecom Tbk (IDX: FREN). This share ownership was the result of the conversion of part of the Mandatory Convertible Bonds into Smartfren shares in September.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
