JAKARTA. PT Arkora Hydro Tbk (ARKO), a power plant company, has signed a loan facility agreement with one of its subsidiaries, PT Nosu Hydro.

Prisca Lumban Tobing, Corporate Secretary of ARKO, said that this loan facility agreement between the company and Nosu Hydro is worth IDR 20 billion. This loan is set to apply an interest rate of 6.5% per annum.

“The payment period is 8 years since the date of commercial operation of the hydropower plant,” said Tobing in the information disclosure.

According to IDNFinancials data, Nosu Hydro is a company owned by ARKO that operates a power plant. This subsidiary is actually still under development phase and recorded total assets worth IDR 1.88 billion as of December 31, 2023.

However, the total consolidated assets claimed by ARKO were reported at IDR 1.15 trillion at the end of the fiscal year 2023, with cash and cash equivalent of IDR 67.73 billion. Meanwhile, its total equity was recorded at IDR 437.92 billion. (KR/ZH)