Aneka Tambang asked to clarify Hermes? export credits

The government as the majority shareholder has asked the state owned general mining company PT Aneka Tambang (Antam) to explain details of the export credits that will be provided by German financial institution IKB Hermes, Bisnis Indonesia reported on Wednesday.

Roos Aryawijaya, the deputy of Minister of State Enterprises, said in Jakarta on Tuesday that the planned disbursement of the export credits had to be disclosed during the company?s upcoming general shareholders? meeting.

"The commitment from the German company should not only be made via telephone. It should be made in a written document," he said, adding that Antam management should also explain the viability of the third ferro nickel plant which would be built by the company.

Antam?s president director Deddy Aditya said early this week that after a long wait, IKB Hermes had finally approved the general mining company?s debt proposal worth between US$350 million and US$360 million to finance the company?s third ferro nickel refinery plant.

"We have received the approval from IKB Hermes to provide export credit for the third ferro nickel plant (FeNi III) through a telephone conversation. The written approval had not reached us," the company?s president director Deddy said. (*)