PGAS gets Rp 1.17t in non-cash loan facility from BRI
Monday, January 16 2012 - 08:25 AM WIB
BRI director of institutional business Asmawi Syam said the facility followed a previous cooperation in the form of virtual account for industrial customers to pay gas transactions.
The new agreement was signed Monday at PGAS office building. The state company will use NCL facility to issue stand-by letter of credit for its suppliers.
"The issuance of SBLC means BRI guarantees payment of PGAS gas sale and purchase contracts," he said on Monday.
The facility will allow PGAS to issue bank?s guarantee, letter of credit and domestic document letters, and can be used by the company?s subsidiary, PT PGAS Telekomunikasi Nusantara, BRI corporate secretary Muhamad Ali said.
The two SOEs also agreed on cooperation on payment of household gas customers through BRI automatic teller machines and opening of BRI cash office at PGAS headquarters.
"From now on all household customers can pay monthly bill at more than 6,000 BRI ATMs across the country," said Ali.
BRI has extended NCL facility to 57 state companies and their subsidiaries totaling Rp 82 trillion, with outstanding loans reaching Rp 42 trillion. (*)