BNBR seeks Japanese investor for Tanjung Jati A project
Monday, August 22 2011 - 02:58 AM WIB
At present, BNBR cooperates with Samsung C&T Corporation in the large power plant project with a share ownership composition of 90 percent for BNBR and 10 percent for the South Korean company.
BNBR is also seeking another partner from Japan in developing the project.
BNBR president director Bobby Gafur said in Jakarta on Friday that the company needed to cooperate with a Japanese investor to be able to obtain loan from Japan Bank for International Cooperation.
Bobby said that the Japanese investor would be offered up to 30 percent stake in the project to become the second largest investor in the project. ?South Korean company will also have an option to increase its shares. We will continue to become a majority shareholder with a 51 percent stake,? he added.
BNBR Finance Director, Eddy Soeparno, said BNBR has secured commitment from two South Korean banks Exim Bank and Hana Bank to partly finance the construction of the US$2 billion power plant project which will have a capacity of 2 x 600 megawatt.
BNBR will use its own fund to provide 30 percent of the funding needs, and the remaining 70 percent will be financed by bank loans. "We can provide up to US$ 600 million from our internal funding source," Eddy added. (*)