JAKARTA. PT Arkora Hydro Tbk (ARKO), has channelled a loan to one of its subsidiaries, PT Arkora Hydro Malili (AHM), which has won the tender offer from PT PLN (Persero) for Sulbangsel Micro-Hydropowerplant (PLTMH Sulbagsel).

Based on the signed loan agreement, AHM will be charged an interest rate of 6.5% per annum for this loan granted by ARKO.

“The payment period is set to 8 years, starting from the commercial operation date of PLTMH,” added the management of ARKO in the information disclosure in Indonesia Stock Exchange (IDX).

The contract value received by AHM from PLN has yet to be publicly disclosed.

According to IDNFinancials data, AHM is an entity owned by ARKO through PT Arkora Tomoni Hydro, with ownership percentage of 99.98%. The remaining 0.02% belongs to PT Arjuna Hidro, also a subsidiary of ARKO. (KR/ZH)