May 8, 2011

Halmahera project & consortium

The state-controlled nickel and golf miner PT Aneka Tambang Tbk (Antam) is likely serious to obtain a financing structure in a bid to seek financing for a US$1.6 billion ferronickel (FeNi) project at Buli, East Halmahera, North Maluku.
After the company entered into a memorandum of understanding with the state electricity company PT Perusahaan Listrik Negara to supply electricity for the Halmahera project on March 23 2011, Antam is underway to hold a beauty contest on more than 20 foreign and local banks. Documents of financing structure had been submitted to Antam at early this month with an advice of PT Danareksa Sekuritas as its financial advisor. 
Investment banks were so frenzy to participate the beauty contest and tried to set several consortium of banks. How many consortium has been set up and who are they? Please read the remaining story.  
Disclosure: No position at the stock mentioned above.

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