Bosowa Group secures loan from BRI to finance LPG project
Saturday, November 5 2011 - 03:21 AM WIB
Bosowa Group said it has secured loan worth US$43.87 million or Rp394.83 billion from PT Bank Rakyat Indonesia Tbk (BRI) to finance the construction of LPG terminal in Makassar, South Sulawesi.
The project will be developed by Bosowa?s firm PT Bosowa Duta Energasindo. CEO of Bosowa Group Erwin Aksa signed the loan facility, while BRI was represented by Division Head for Business of BRI, Zainuddin Mappa.
?Bank BRI is committed to finance strategic projects and has a high commercial value such as LPG terminal. Apart from supporting the infrastructure network, the project will also help stimulate economic activities in eastern Indonesia,? said Zainuddin.
The loan has a tenor of eight years and grace period of 22 months.
President Director of Duta Energasindo Reno Junizwan said that the total investment needed to develop the project reached US$70 million. (*)