ALatieF gets $75m for port facilities<\/p>\n
JAKARTA (JP): PT ALatieF P & O Port Development Company
\n(APPDC) was granted a syndicated loan of US$75 million yesterday
\nto finance the construction of port and marine facilities in
\nAmamapare, Irian Jaya which will support the operation of a
\ncopper mining firm.<\/p>\n
The loan, which was arranged by the Singapore branch of HSBC
\nInvestment Bank Asia Ltd. and the Commonwealth Bank of Australia,
\nwill mature in five years and can be extended for up to 10 years.<\/p>\n
APPDC's president, Usman Ja'far, said after signing the loan
\nagreement that the company will use the funds to finance the
\nestablishment of port and marine facilities in Amamapare to
\nsupport PT Freeport Indonesia's operations.<\/p>\n
Freeport Indonesia, a joint venture 80 percent owned by
\nFreeport McMoRan Copper & Gold of the United States, 10 percent
\nby the Indonesian government, and another 10 percent by PT
\nIndocopper Investama, operates a large copper and gold mine in
\nGrasberg, Irian Jaya.<\/p>\n
Usman said that APPDC's shareholders -- PT ALatieF Nusakarya
\nCorporation and P & O Australia Ltd. -- have agreed to invest
\n$100 million, comprising of an equity of $25 million and a loan
\nof $75 million, to construct the port and marine facilities.<\/p>\n
According to the Hongkong and Shanghai Banking Corporation,
\nits Jakarta branch will contribute $17.5 million to the
\nsyndicated loan facility for APPDC, the Commonwealth Bank of
\nAustralia $17.5 million, the Hong Kong branch of the First
\nNational Bank of Chicago $10 million, the Singapore branch of
\nNational Westminster Plc. $10 million, the Jakarta branch of ABN
\nAmro Bank $5 million, PT IBI Indonesia Bank $5 million, the
\nSingapore branch of the Long-Term Credit Bank of Japan $5 million
\nand the Royal Bank of Scotland Plc. $5 million. (riz)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/alatief-gets-75m-for-port-facilities-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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