EEC sorts pay problems
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Tuesday, 12 October, 1999 - 22:00
PERTH-based Energy Equity Corporation Ltd has managed to resolve some financial problems experienced with the Indonesian Government-owned electricity authority, PT PLN (Persero).
In what has been described by EEC managing director Maurice Brand as a “major step towards securing future satisfactory cash flows”, the company has established a good understanding with PLN for a longer term agreement that will provide certainty for EEC shareholders.
It will also allow for continued EEC commitment to maintaining a long-term power supply to PLN and the people of the Indonesian province of South Sulawesi.
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