Semen Cibinong gets loan of $175m<\/p>\n
JAKARTA (JP): PT Semen Cibinong, a privately-owned cement
\nproducer, has gained a five-year term loan facility of US$175
\nmillion from a syndicate of 28 international banks.<\/p>\n
The company's president, Hashim Djojohadikusumo, said that out
\nof the new loan, $100 million will be used to repay existing
\ndebts.<\/p>\n
\"The remaining $75 million will be used to finance the up-
\ngrading of our first and second production units in Narogong,
\nBogor, which have a combined capacity of 700,000 tons a year,\" he
\ntold reporters after signing the agreement on the loan Friday.<\/p>\n
He said the up-grading will increase the plant's production
\ncapacity by 10 percent.<\/p>\n
Semen Cibinong has three production units in Narogong with a
\ntotal capacity of three million tons a year. A new unit with a
\nproduction capacity of 2.6 million tons will be built adjacent to
\nthe existing units.<\/p>\n
Hashim was quoted by Bisnis Indonesia as saying that the new
\nloan will bear an interest rate of 1.5 percent above the London
\nInterbank Offered Rate.<\/p>\n
The banking syndicate includes the ABN-Amro Bank of the
\nNetherlands, Chase Manhattan Bank of the United States, Deutsche
\nBank of Germany, Industrial Bank and Sakura Bank of Japan and
\nstate-owned Bank Bapindo.(04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/semen-cibinong-gets-loan-of-175m-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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