Apexindo receives another US$26 million from Fortis Bank
Monday, July 21 2003 - 03:46 AM WIB
PT Apexindo Pratama Duta Tbk, a subsidiary of PT Medco Energi International, has received loan worth US$36 million from a syndication of banks led by Singapore?s Fortis Bank.
Apexindo?s finance director Agustinus B. Lomboan said in Jakarta last week that the loan, the second part of the US$65 million loan signed with Fortis Bank last year, would be in the form of project financing loan.
He said that the US$26 million loan would be used to partly finance the construction of the company?s offshore rig Yani. The first loan of US$39 million was used by the company to finance the construction of Raissa offshore rig.
Apexindo has 15 rigs both for offshore and on-land exploration activities. Seven of them including Yani, Raissa and Misera are located in Kalimantan, another four in Java, four in Sumatra and the other two in the United States and the Middle East. (*)