Resource Alam provides corporate guarantee for BIAS

By Romel S. Gurky

IDX-listed PT Resource Alam Indonesia Tbk said it has provided corporate guarantee for its indirect subsidiary PT Bias Petrasia Persada (BIAS) to get loan from Landes Bank Baden Wurttengerg (LBBW).

BIAS is developing a 2x3.2 MW hydro power plant in Citatih, Sukabumi, West Java. Resource Alam said in a statement Wednesday that the loan from LBBW will be used to purchase turbine for the power plant project so that it could be immediately completed.

Resource Alam owns BIAS through its 99.9 percent subsidiary PT Khatulistiwa Hidro Energy, which was acquired in June of last year.

Editing by Reiner Simanjuntak