Bank Mandiri to disburse $150 million for Antam?s ferronickel project
Tuesday, April 15 2003 - 02:58 AM WIB
State-owned Bank Mandiri said on Monday it would disburse some US$150 million loan in May for publicly listed mining firm PT Aneka Tambang Tbk.
Bisnis Indonesia daily reported that the money would be used to help finance the construction of Aneka Tambang's third ferronickel plant in Central Sulawesi.
Repayment of the loan would be made in 7-10 years, with a grace period of between two and three years, Bank Mandiri director I Wayan Pugeng was quoted as saying.
Bank Mandiri would charge Antam a 9-percent annual interest for the loan, I Wayan said.
The company had previously planned to raise euro-denominated loan amounting to between $240 million and $255 million from a German bank, IKB Hermes. It said recently however that it might have to cancel the plan because of the appreciation of the euro. (*)