Japan funds RI gas project

Tue, 24 Oct 1995 | Source: AFP

TOKYO (AFP): The Export-Import Bank of Japan said yesterday it had signed a contract for a US$195 million syndicated loan to Indonesia, to be extended jointly with the Asian Development Bank.

The bank said the loan would be used by Indonesia State Public Gas Corp. to finance a project to lay an 800 kilometer (500 mile) pipeline in the country.

Indonesia, which has seen sharp growth in energy demand, is promoting plans to develop natural gas as an alternative energy source for oil, bank officials said.

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