ICR secures Rp 60 billion loan commitment from UOB Indonesia
Tuesday, May 3 2016 - 08:05 AM WIB
Coal mining company PT Indonesia Coal Resources (PT ICR), a wholly owned subsidiary of IDX-listed mining firm PT Antam Tbk, stated that it has secured loan commitment from Bank UOB Indonesia worth Rp 60 billion for working capital.
Ady Taufik Yudisia, President Director of ICR told Petromindo.com on Tuesday that the facility will be used for supporting coal trading activity of the company this year.
?This year we are targeting around 1.2 million tons (of coal) volume for trading activity, and UOB Indonesia has given a commitment to give us a (loan) facility up to Rp 60 billion to support our coal trading,? he said.
Ady said that the buyers of the company?s coal are mostly firms under the Antam group such as PT Indonesia Chemical Alumina (PT ICA) in Tayan, West Kalimatan, and Antam?s business unit in Pomalaa, Southeast Sulawesi, and several other customers.
Editing by Reiner Simanjuntak