Bank Mandiri ready for smelter financing

By Bambang Atmaja

Indonesia's largest bank by asset, Bank Mandiri, is ready to provide loans to finance construction of smelters in the country, top official of the bank said.

"We are ready to finance the development of smelters," Didiek Hartantjo, Executive Vice President of Bank Mandiri told Petromindo.com.

He said that Bank Mandiri has provided financial aid to PT Antam to build its smelter, adding that the company is currently in talks with a miner for possible smelter financing.

President Susilo Bambang Yudhoyono has issued decree to speed up the development of added value on mineral ores though processing and smelting.

One of the instructions is to encourage state firms to help funding the construction of the processing unit.

Editing by Adianto P. Simamora