Suryacipta Swadaya to secure $30m loan<\/p>\n
JAKARTA (JP): Industrial estate developer PT Suryacipta
\nSwadaya, a subsidiary of PT Surya Semesta Internusa, is set to
\nsecure a US$30 million loan from the London-based Commonwealth
\nDevelopment Corporation (CDC).<\/p>\n
The company said over the weekend that the six-year loan would
\nbe signed here tomorrow.<\/p>\n
The loan will be used to finance the construction of the
\nsecond phase of its industrial park in Karawang, West Java.<\/p>\n
It indicated the British government's confidence in the
\nIndonesian economy despite the economic crisis, which has
\nblighted the country since early July, the company said.<\/p>\n
Such a commitment also indicated the CDC's confidence in the
\nfuture of real estate development in Indonesia, it added.<\/p>\n
The CDC, established by the British government in 1948 to
\nfinance long-term projects and to perform private placements, has
\noperated in Indonesia since 1971 and has so far provided around
\nS$300 million in loans to Indonesian companies.<\/p>\n
In the last 12 months, the institution has agreed to finance
\n$122 million worth of projects.<\/p>\n
Suryacipta Swadayap's industrial estate in Teluk Jambe,
\nKarawang, called Kota Industri Suryacipta (Suryacipta Industrial
\nCity) is an integrated industrial estate. It comprises an
\nindustrial park development, ready-to-use plants, a commercial
\ncomplex, clean water and waste water proccessing centers,
\ntelecommunication and electricity facilities, dormitories and
\nlow-cost housing.<\/p>\n
In April 1995, the company obtained a Rp 60 billion (then
\n$26,000) loan from a syndication of local banks to finance the
\nfirst phase of the industrial estate construction, which covers
\nabout 500 hectares.<\/p>\n
The company repaid the debt in March this year, or two years
\nbefore it matured.<\/p>\n
The second phase, will develop around 900 further hectares.<\/p>\n
Sixteen foreign and local companies have established their
\nfactories on the estate. These include ceramic maker PT Keramika
\nIndonesia Asosiasi, electronic goods producer PT JVC Electronic
\nIndonesia, battery maker PT GS Battery Inc, and tiremaker PT
\nBridgestone Tire Indonesia. (08)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/suryacipta-swadaya-to-secure-30m-loan-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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