Bakrie gets US$28m to develop Esia

Bakrie gets US$28m to develop Esia

JAKARTA: Singaporean financial institution Capital Managers Asia Pte Ltd and New York's Credit Suisse First Boston consortium have agreed to invest US$28 million to develop PT Bakrie Telecom's fixed-wireless service Esia.

The investment is expected to help finance the installing of three million phone lines at a total five-year cost of $450 million, Bakrie's president Anindya Bakrie said on Thursday. --JP