Saptaindra buys heavy equipment, signs credit facility
Tuesday, June 28 2016 - 11:03 AM WIB
IDX-listed coal mining firm PT Adaro Energy Tbk announced on Tuesday that its subsidiary PT Saptaindra Sejati (SIS) has signed an agreement with PT Rahman Abadi Jaya (RAJ) allowing the former to purchase vehicles, equipment to support its operation.
SIS has also signed agreements with PT Caterpillar Finance Indonesia, PT JA Mitsui Leasing Indonesia and PT Komatsu Astra Finance in which the three firms will provide credit facility for SIS to purchase heavy equipment form RAJ.
Adaro said in the statement that SIS will purchase operational vehicles, heavy equipment and other equipment along with spare parts worth Rp 483.3 billion using internal funds. Besides, it will purchase heavy equipment worth Rp 390.9 billion using credit facilities from the three finance companies.
SIS is a mining service company 99.9 percent owned by Adaro. Aside from mining service, it also provides logistic and infrastructure development services. It now operates in mines in South Kalimantan province.
Editing by Johannes Simbolon