Mar 17, 2011

Antam seeks US$1 billion financing

One of Indonesia's largest nickel miner PT Aneka Tambang Tbk (Antam) is keen to issue bonds and seek bank loan facility worth US$1 billion this year.
The financing will be used by the company to bankroll US$1.6 billion of ferronickel smelter's project in East Halmahera, Maluku.
"Several banks in talk with us to fulfill the investment. We are studying to issue bond," said Antam's President Director Alwin Syah Loebis said.
The project is estimated to generate 27,000 metric tons of ferronickel per year and expected to have commercially production by 2014. Antam expects a stronger net income this year after it posted growth last year to over Rp1 trillion.

Disclosure: No position at the stock mentioned above.

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