Dian Swastatika obtains $80m loan from China Development Bank
Friday, January 10 2014 - 02:15 AM WIB
IDX-listed coal miner PT Dian Swastatika Tbk has obtained another US$80 million loan from the China Development Bank, increasing the bank?s total lending commitment to the firm to $318 million, Investor Daily reported Friday.
The new loan facility will be used to help finance 2014 capital expenditure plan, said Dian Swastatika?s Director Hermawan Tarjono.
The company plans a capex spending of $270 million for this year, a 170 percent jump from the capex spending in 2013. About 70 percent of the capex spending will be used to finance power plant projects in South Sumatra, while the remainder for developing mining, trading and multimedia businesses.
Finance Director Lanny said the company projected a revenue of $600 million for this year, the same with last year?s achievement, amid lingering uncertainty of the coal price. (*)