Rukun Rahardja obtains $70m loan from HSBC
Saturday, March 14 2015 - 05:14 AM WIB
IDX-listed energy services provider PT Rukun Raharja Tbk said that the company and four subsidiaries on March 11 signed a five-year US$70 million loan facility with HSBC.
The company said in a statement that the four subsidiaries included PT Panji Raya Alamindo, PT Energasindo Heksa Karya, PT Triguna Intemusa Pratama and PT Trimib Cipta Mandiri.
Rukun Rahardja said that the loan would be used to help refinance debt it owed to PT. Bank Internasional Indonesia Tbk, and to help finance capital expenditure of the subsidiaries this year.
The company has earlier announced a total capex plan of $10 million for this year to help finance various projects including a 20km gas transmission pipeline in East Java. The $23 million pipeline, which will channel 15 mmscfd of gas to PLN, is expected to be completed September of this year.
Other projects include a planned 7 km gas pipeline worth $21 million in Jambi (construction to start this year), 10 MW power plant in Karawang, West Java, in joint venture with General Electric.
Editing by Reiner Simanjuntak