IFC invests in PT Berlian

Wed, 04 Jun 1997, 00:00 WIB | Source: AFP

WASHINGTON (AFP): A World Bank group financing private sector
projects in developing countries on Monday said it had approved a
US$42 million investment in an Indonesia shipping firm.

The loan and equity financing package from the International
Finance Corporation is for PT Berlian Laju Tanker (BLT), which
specializes in carrying oil products, liquefied petroleum gas and
asphalt.

The financing will enable the company to expand its operations
in international and regional markets and reduce the age of its
fleet, according to the IFC.

The expansion program includes the acquisition of 10 newly
built chemical tankers ranging from 6,500 to 9,000 tons.

"This investment underscores our support to the Indonesian
government's recently announced liberalization measures for the
shipping industry," said Declan Duff, head of the IFC's
telecommunications, transportation and utilities division.

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