One type of Evolutionary Optimization Technique namely Particle Swarm Optimization (PSO) have been proposed in this paper to obtain the optimal placement a Shunt Flexible AC Transmission System (FACTS) Controller i.e. Static VAr Compensator (SVC) in the network. An Optimal Power Flow (OPF) problem with mixed integer programming has been formulated for simultaneously optimizing multiobjectives optimization problem viz., enhancing the power system loadability, minimizing the active power loss of transmission line, and by considering installation cost of the controller whereas maintaining the system security and stability margins, e.g., small signal stability, fast voltage stability index, and line stability factor in their acceptable margins. The effectiveness of the proposed methodology has been investigated on a practical Java-Bali 24-bus Indonesia system. Results demonstrate that the static and dynamic performances of the power system can be effectively enhanced by the optimal allocation of the SVC in the network.