Nusantara Regas inks another Mandiri loan deal

PT Nusantara Regas, the owner of West Java FSRU on the Jakarta bay, has secured US$52 million in loans from Bank Mandiri to strengthen its working capital.

The loan agreement, signed on Wednesday by Nusantara President Director Hendra Jaya and Mandiri Director of Institutional Banking Abdul Rachman, will be valid for one year but can be subject to extension, a statement said.

This is the second loan deal between the two firms this year. In March, Mandiri has also agreed to channel non-cash loan worth $100 million.

Nusantara is a joint venture between state owned oil and gas firm PT Pertamina and state gas distributor PT Perusahaan Gas Negara. The FSRU, called Regas Satu FSRU, has a capacity of 3.5 million tons per annum (MTPA). Under the contract with Total and INPEX, it will receive a total of 11.75 Mt of LNG from the Badak LNG plant in Bontang, East Kalimantan over a period of 2012-2022.

Editing by Dadan Wijaksana