Rig Tenders seeks $21 million of loan
Wednesday, December 26 2007 - 01:32 AM WIB
Indonesian stock exchange-listed firm PT Rig Tenders Indonesia is seeking loan amounting to US$21 million from local and foreign banks, Investor Daily reported on Wednesday.
Rig Tenders? Corporate Secretary Mukhtar Chua said that the loan would be used for financing the building of accommodation barge valued at about $30 million.
?Aside from the banking loan, the company also would provide 30% of the funds (to build the accommodation barge) from the internal cash. We still discuss the value but it may not exceed $30 million,? he said.
The barge to be built in northern offshore of Java Sea in 2008 will be used as accommodation facility for the company?s oil and gas customers. The report did not give further details. (*)