INCO to pay US$40m in loan principal to creditors
Thursday, April 5 2001 - 07:30 AM WIB
Nickel producer PT International Nickel Indonesia (Inco) said it would soon make the payment of US$40 million in principal to Japan's Export Development Corporation Exim Bank and its Canadian holding company Inco Ltd.
Company corporate secretary Fatturohman was quoted by Koran Tempo as saying that the company owed a total of $500.05 million, including $421.25 million to the Japanese bank and $78.8 million to Inco Ltd.
"The payment of the principal is in progress," he said, adding it is the third payment of principal made by the company.
He said the company had thus far paid a total of $80 million in principal to both creditors.
He said Inco also planned to delist its shares from the Surabaya Stock Exchange, citing the small trading of its shares at the bourse.
He said the company would ask its shareholders to approve the plan in the shareholders meeting on Thursday. (*)