Mitrabara signs $20m credit facility with Tokyo Mitsubishi
Friday, September 18 2015 - 02:24 PM WIB
By Romel S. Gurky
IDX-listed coal mining firm Mitrabara Adiperdana Tbk signd on Friday an Uncommitted Revolving Working Capital Facility agreement worth US$20 million with the Jakarta branch of Bank of Tokyo Mitsubishi UFJ Ltd.
The loan is obtainable within 12 months, Mitrabara said in a statement, adding the funds will be used as working capital for 2015-2016.
Mitrabara operates coal concessions in Malinau Regency, North Kalimantan. The firm aims to boost production to 4 million tons this year from 2.5 million tons last year.
Editing by Johannes Simbolon