PAMA provides US$10 million loan to SJR
Saturday, July 4 2015 - 03:13 AM WIB
By Tri Subhki R
IDX-listed heavy equipment and coal mining company PT United Tractors Tbk (UT) said that its mining services subsidiary PT Pamapersada Nusantara (PAMA) has provided term loan worth US$10 million to PT Sumbawa Jutaraya (SJR) to help finance development and exploration activities at the latter?s gold mine in East Nusa Tenggara.
?The loan will directly support production processes or other SJR?s major activities in mineral mining sector,? the company said on Friday. The eight-year term loan carries an annual interest rate of 2.25 percent plus LIBOR.
PAMA owns 75.5 percent shares in SJR following acquisition in April 2015.
Editing by Reiner Simanjuntak