However, restructuring requires stability in the Rupiah so as to allow proposals to be put together, and for the moment, restructuring may represent more talk than action.
Many foreign firms have strong experience in Indonesian project finance.
Non-power roles have included project finance for PT Amoco's petrochemical project in Indonesia, the borrowers on the Excelcomindo nationwide GSM network, PT Freeport Indonesia in the expansion of its copper and gold mine, and for developers and lenders on a number of water treatment plants and pipelines. Denton Hall 's Singapore office has been the base for a thriving Indonesia practice. Examples of transactions in the energy sector have included advising Premier Oil on the export, sale, transportation and financing of gas from the West Natuna gas field to Singapore, representing Energy Equity on its role in the Sengkang IPP, advising Sumitomo Bank and Marubeni on a facility to finance a coal mine in Kalimantan, and representing various elements of the Indonesian government on the regulatory framework for the gas industry and the privatisation of Indonesian Electricity. The firm also has wide experience in the telecommunications sector, where it works with MediaOne. Freshfields had one of the most active Indonesia practices prior to the currency crisis, and its advisory mandates in recent years have been impressive.