Indika provides extra $65m loan for coal trading unit
Wednesday, March 4 2015 - 01:49 AM WIB
By Ruli Setiawan
IDX-listed energy company PT Indika Energy Tbk has agreed to provide additional loan facility worth up to US$65 million for its indirect coal trading subsidiary Indika Capital Investments Pte Ltd (ICI).
The company said in a statement to the IDX Tuesday that the extra loan was made in the amendment of its loan agreement with ICI, signed on February 27.
ICI will withdraw the loan in several stages to support its coal trading business, said Indika, which indirectly owns 100 percent of ICI via PT Indika Indonesia Resources.
Editing by Reiner Simanjuntak