Indonesia's PLN plans to issue 3 trln rph bonds

JAKARTA, June 26 (Reuters) - Indonesian state electricity firm PT Perusahaan Listrik Negara plans to raise 3 trillion rupiah ($324.3 million) via bond issues in the third quarter to help fund its spending plans, its president director said on Thursday.

PLN, the monopoly power supplier for Indonesia, has 24,000 MW of generating capacity and the government already has plans to boost capacity by 10,000 MW by 2010 using coal-fired plants to cope with higher power demand.

"We plan to issue 3 trillion rupiah worth of rupiah-denominated bonds this year, hopefully in the third quarter," Fahmi Mochtar said.

Mochtar said the proceeds will be used for the firm's internal funding. He did not give details.

Separately, one of the underwriters for the bonds said PLN has appointed three securities firms to handle the issuance.

"Trimegah has been appointed as joint lead underwriter together with Danareksa and Indopremier," Agus Priyambada, corporate secretary of PT Trimegah Sekuritas (TRIM.JK) told Reuters, referring to PT Danareksa Sekuritas and PT Indopremier Securities.

Indonesian officials have said domestic electricity demand is growing at around 10 percent a year, but PLN's daily output is far below its 24,000 MW capacity due to old and inefficient plants.

Indonesia is trying to tap alternative sources of energy to meet rising power demand and cut consumption of expensive crude oil as its own reserves dwindle.

For more stories on Indonesia's bond market, please double click [ID:nIDBOND]. ($1 = 9,250 rupiah) (Reporting by Muklis Ali and Tyagita Silka, editing by Sugita Katyal)