Bakrie gets $21.7m loan<\/p>\n
JAKARTA (JP): PT Fajar Bumi Sakti, a coal mining company
\ncontrolled by the Bakrie family through PT Bakrie Investindo,
\nsecured a US$21.7 million syndicated loan from eight foreign and
\ndomestic commercial banks yesterday.<\/p>\n
Indra Hasbar, Fajar Bumi Sakti's director, said after signing
\nan agreement on the loan here that it will be used to finance the
\nexpansion of the company's annual production capacity to 750,000
\ntons from 180,000 tons at present.<\/p>\n
\"We aim to gain $85 million from exports of our products in
\nthe first five years of operation,\" he said, adding that the mine
\nis estimated to produce coal within 15 years.<\/p>\n
Bakrie acquired Fajar Bumi Sakti, which controls 1,000
\nhectares of a mining area in East Kalimantan, in 1992.<\/p>\n
The loan was arranged by Bank Nusa International -- also owned
\nby Bakrie -- the American Express Bank Ltd., ANZ Panin Bank, Bank
\nBira, Bank Dharmala, Panin Bank, IBJ Indonesia Bank and Saehab
\nMerchant Bank of South Korea. (hdj)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-gets-217m-loan-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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