Jan 11, 2012

Wintermar gets US$45 mio loan from IFC

PT Wintermar Offshore Marine Tbk (WINS), the largest support vessels provider in Indonesia, has secured a US$45 million loan facility from a reputable institution International Finance Corporation (IFC), a member of World Bank Group.
In an official statement published yesterday, Wintermar will use the facility to help expanding infrastructure services in the oil and gas sector in Indonesia, boosting these sector. As a result, the sector can create more jobs and drive the economic growth.
Wintermar will use the facility to add 15 support vessels within two years, providing the company with opportunity to explore and develop oil and gas offshore fields, especially in Eastern Indonesia.
"Boosting the infrastructure quality is important to drive and propel Indonesia's economic growth," said IFC Vice President and General Counsel Rachel Robbins.
The IFC investment is a prove of the company's commitment to help accelerating the infrastructure development in the oil and gas sector.
Wintermar currently operates 65 vessels, cru, equipments, transportation tools, and integrated services such as anchor handling, towing, and offshore rigs extension.
  
Disclosure: No position at the stock mentioned above.  

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