Medco secures $140m loan from BRI
Tuesday, June 21 2011 - 07:59 AM WIB
Indonesia?s largest private oil and gas firm PT Medco Energi Internasional has secured a standby loan worth US$140 million from state bank BRI to fund capital expenditure and pay off debts.
The company?s finance director, Syamsurizal Munaf, told a media conference on Tuesday the five-year tenure loan would be disbursed two years after its signing.
Medco president director Lukman Mahfoedz said in a press statement the BRI loan displayed the trust of national banks in the company?s commitment to development of oil, gas and other energy sector. (godang)