Local mining contractor obtains loan from IFC
Thursday, July 12 2001 - 02:27 AM WIB
Local mining contractor PT Dianlia Setyamukti has obtained a US$5 million loan from the International Finance Corporation (IFC), the investment arm of the World Bank, reports said Thursday.
The loan signing agreement was made on Wednesday in Jakarta.
The loan would help finance the implementation of Dianlia?s mining contract. The company has recently won a contract from coal mining company PT Berau Coal, which has vast mining site in East Kalimantan.
Dianlia has also become a sub contractor at another coal mining company PT Adaro Indonesia.
Dianlia said that the IFC loan would be used to purchase heavy mining equipments. The company needs a total of $10 million to finance its whole business.(*)