Often Off Make Loan Fund Africa to France
Credit & Loan August 12th, 2010
JOHANNESBURG – the giant energy company from South Africa, Eskom, took credit loans worth 1185 million euros (R13 billion rands) with French banks to fund two power programs.
Reporting from the AFP, Tuesday (29/12/2009), the Eskom said in a statement expressed when the loan will be used to finance foreign contracts for power plants Medupi and Kusile.
Banks that provide loans funds include BNP Paribas, Calyon, Societe Generale, Natixis, as well as credit institutions in the cover by COFACE, a French export credit agency.
Earlier this month, the utility of South Africa said it had signed an export credit agency loans for 705 million euros in three South African banks and four foreigners to finance power plants Kusile.
The loan is to help the giant energy companies to finance the expansion of generating electricity for the 385 billion rand is currently fighting for funding searches.
As for the loan, fixed rate loan would be paid back more than 12 years after the relevant commissioning of two power plants.
For information, blackout that occurred in this country in January 2008 showed the strain aging electricity infrastructure. Forcing key industries to close, amid growing demands of economic improvement after the end of apartheid.
In addition, both the power plant has been implementing the tariff increase as much as two times the average of 59 percent since last year. The increase was made to finance the construction of new power plants in order to meet increasing electricity demand.
