Tanah Laut subsidiary gets Rp 25.5 billion loan at 0% interest
Tuesday, February 12 2013 - 01:23 PM WIB
Indonesian shipping company PT Pelayaran INDX Lines (PIL), a subsidiary of IDX-listed PT Tanah Laut Tbk, has on February 8, 2013 signed Capital Loan Agreement with Malaysia-based Equatorex Sdn Bhd.
The loan, amounting to Rp 25.544 billion, is given by Equatorex to PIL in stages starting before the signing of the agreement to finance the mobilization of Parameswara Floating Crane from South Kalimantan to Tarahan Port in Lampung in accordance with the previously signed coal loading unloading agreement with PT Bukit Asam (PTBA), in which PIL will provide the needed floating crane and tug&barge units from the loading port to the anchorage point at Tarahan Port.
The company stated that the loan is due for at least a year period starting from each loan stage, in which PIL should pay back the loan at 0% interest rate. PIL stated that it will pay back the loan immediately after it initiates the contract with PTBA.
Editing by Er Audy Zandri