Jul 1, 2011

Krakatau Steel gets US$600 mio loan

PT Krakatau Steel Tbk (KRAS), Indonesia's largest steel maker, has sealed US$500 million-US$600 million loan facility from China Investment Corporation.
Krakatau President Director Fazwar Bujang said the company will follow up the loan agreement this month.
"Yes, loan from CIC and investor China also wins the EPC tender," he said.
The facility will be used by the company as additional financing to construct blast furnace facilities.

Disclosure: No position at the stock mentioned above.  

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