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The Jakarta Post | Jakarta - Power solution provider PT Sumberdaya Sewatama (Sewatama) has received Rp 300 billion (US$21.6 million) in funding from the Indonesia Infrastructure Finance (IIF) company for the construction of four mini hydropower plants in South Sulawesi this year.

Sewatama president director Elan B. Fuadi said the capital injection from IIF was in the form of mandatory convertible bonds (MCB) that will mature in a five-year period. .

Most of the capital injection, or Rp 200 billion, was transferred last year. "So, after five years, the bond will be exchanged for a portion of shares. IIF will become one of Sewatama shareholders," Elan told a press briefing at IIF's office in Jakarta on Tuesday.

Penulis: (rbk)