Surya Esa Perkasa signs $75m loan agreement
Friday, November 1 2013 - 07:07 AM WIB
By Ruli Setiawan
IDX-listed PT Surya Esa Perkasa Tbk said in a filing to the exchange on Thursday that it has signed a lending agreement worth US$75 million on July 30, 2013 with a number of banks and financial institutions.
The company said that the loan will be used to fund working capital, hedging facility, and for investment in subsidiary PT Panca Amara Utama (PAU).
PAU is currently building a fertilizer plant by utilizing natural gas from the Senoro-Toili gas fields (Donggi-Senoro), Central Sulawesi, supplied by JOB Pertamina-Medco E&P Tomori Sulawesi. PAU is expected to begin commercial production in the second quarter of 2015, with a total project cost of US$ 700 million.
Editing by Reiner Simanjuntak