Mitsui to handle Pertamina project<\/p>\n
TOKYO: Japan's Mitsui & Co. has signed a project financing deal
\nworth US$200 million with Pertamina, an Indonesian state-run oil
\nand gas company, The Nihon Keizai Shimbun reported in its Sunday
\nedition, citing sources familiar with the matter said.<\/p>\n
Under the contract, five banks, including the Japan Bank for
\nInternational Cooperation, will provide necessary funding for the
\nIndonesian firm's new oil project. Mitsui will receive low-sulfur
\nfuel oil from Pertamina and use its sales proceeds to repay the
\nbanks.<\/p>\n
It is one of the largest loan deals handled by Japanese
\ncompanies for Indonesia since a major currency crisis erupted in
\nEast Asia in 1997.<\/p>\n
The Japan Bank for International Cooperation will lend $120
\nmillion, while UFJ Bank, Bank of Tokyo-Mitsubishi, France's
\nCredit Lyonnais and ING of the Netherlands will provide $20
\nmillion each.<\/p>\n
Pertamina will use the loan to fund a national project it will
\nconduct in the western part of Java Island to produce unleaded
\ngasoline.<\/p>\n
Mitsui is to receive 20,000 to 31,000 barrels of low-sulfur
\nfuel oil on a daily basis for just over three years for sale to
\nthermal power plants in Japan, South Korea and elsewhere.
\n-- Dow Jones<\/p>",
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"sponsor": "Okusi Associates",
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