Indocement to sign loan

Indocement to sign loan

TOKYO (Reuters): The Export-Import Bank of Japan and four
Japanese commercial banks plan to sign a loan contract worth 15
billion yen with Indonesia's largest cement maker Indocement
Tunggal Prakarsa, a spokesman for Export-Import Bank said
yesterday.

About 60 percent of the total loan will be made by Export-
Import Bank and the rest by Fuji Bank Ltd, Yasuda Trust & Banking
Co Ltd, Sumitomo Trust & Banking and Mitsubishi Trust and Banking
Corp, he said.

The contract signing is scheduled for November 21 in Jakarta,
he said.

Indocement will use the loan to import equipment from Japan
for a new cement plant to be built in a suburb of Jakarta, the
spokesman said.

The plant will have annual production capacity of about 2.5
million tons.

Japanese firms Marubeni Corp and Kawasaki Heavy Industries
will provide equipment for the plant. The loan will be guaranteed
by Marubeni, the spokesman said.