LNG plant secures $1.12b loan<\/p>\n
TAIPEI (DPA): The Bank of Taiwan on Saturday announced a 1.12-
\nbillion-dollar loan Saturday for the construction of the world's
\nlargest liquefied natural gas (LNG) plant in Indonesia.<\/p>\n
The bank will underwrite the syndicated loan, which also
\ninvolves the Banque Indosuez, Chase Manhattan Bank and four
\nJapanese lending institutions.<\/p>\n
The loan will finance the construction of an eighth LNG
\nprocessing line in the East Kalimantan city of Bontang by the
\nIndonesian state oil firm Pertamina.<\/p>\n
The company already has six such lines in the area and a
\nseventh is under construction.<\/p>\n
Pertamina needs to add an eighth line to meet demands created
\nby its new 20-year LNG sales contracts with Taiwan's Chinese
\nPetroleum Corporation and South Korea's Korea Gas Corporation.
\nThe Bank of Taiwan is contacting nine Taiwan banks to participate.<\/p>\n
Syndication of the financing is expected to begin soon and
\nwill be closed by the end of February.<\/p>\n
Construction on the project is to begin in March and will be
\ncompleted on Nov. 30, 1999. The new plant would produce an
\nexpected 2.95 million tons of liquefied natural gas per year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lng-plant-secures-112b-loan-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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