Feb 4, 2011

META requires Rp5 trio financing

Rajawali Group, controlled by Indonesian tycoon Peter Sondakh, gave an oppurtunity to PT Nusantara Infrastructure  Tbk (META) to obtain financing from loans and equity to acquire and develop infrastructure of green field project.
The company requires Rp4 trillion-Rp5 trillion this year to acquire projects which have generated a lot of profits to the company as well as to seek a strategic partner to develop the green field project.
President Director of Nusantara Infrastructure M. Ramdani Basri said that the company has asked Rajawali Group to support the funding by proposing loans to banks, creditors, and equity.
“We ask a commitment from the shareholders to fund the company, if the company needs a big fund and the sharesholders could not provide it then they have to be diluted,” he said.
This year, as he said, Nusantara Infrastructure requires between Rp4 trillion and Rp5 trillion to fulfill acquisition needs. A number of projects are under review, five projects consist of toll road, port, power plant and airport construction.
Ramdani refused to give the detail about the target projects but he ensured that those projects are of big scale.
“Port construction, for example, it will spend US$2 billion to US$3 billion.”
In the extraordinary meeting of shareholders last Wednesday, the public investors gave an authority to the Directors to propose bank loans. 

Disclosure: No position at the stock mentioned above.  

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