ATPK?s unit gets $50m loan from Exximbank
Thursday, April 16 2015 - 09:18 AM WIB
By Romel S. Gurky
IDX-listed PT ATPK Resources Tbk announced on Thursday that its coal mining subsidiary PT Mega Alam Sejahtera (MAS) received a credit facility worth up to US$50 million over a period of five years from state-owned Indonesian Export Financing Institute (LPEI)/Indonesia Exximbank on April 14, 2015.
The funds will be used for refinancing MAS? debt, purchasing heavy equipment and adding up work capital, ATPK said in a statement.
MAS operates a 3,274-ha coal concession in Berau Regency, East Kalimantan. MAS produces coal with CV of 4500-5100 kcal/kg (ADB).
Editing by Johannes Simbolon