Jan 31, 2012

Antam secures US$650 mio loan

A consortium led by PT Bank Mandiri Tbk (BMRI) has provided a US$650 million project finance to the state-controlled PT Aneka Tambang Tbk (Antam).
The financing facilities will be used by Antam to construct a feronickel IV production facility with capacity of 27,000 tons nickel a year in East Halmahera, North Maluku.
Several banks such as Bank Rakyat Indonesia, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation have signed the joint financing facilities today.
Bank Mandiri Vice President Director Riswinandi said Bank Mandiri, via the consortium, expects to help Antam in constructing the production facility to fulfill soaring demand for nickel in the domestic and export market.

Disclosure: No position at the stock mentioned above.

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